Subway sold to private equity firm Roark Capital
By Food in Canada Staff
Business Operations Editor pick subway
Subway enters into a definitive agreement to be acquired by affiliates of Roark Capital.
Roark is a private equity firm with $37 billion in assets under management. It focuses on investments in consumer and business service companies, with a specialization in franchise and franchise-like businesses.
“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” said John Chidsey, CEO of Subway. “Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests and our employees.”
The transaction comes on the heels of Subway announcing its 10th consecutive quarter of positive same store sales. The company will continue to execute its strategy with a focus on sales growth, menu innovation, modernization of restaurants, overall guest experience improvements, and international expansion.
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