Global Fast-Food Giant Embraces New Horizons in Partnership with Renowned Private Equity Firm
In an exciting and groundbreaking development, the renowned fast-food chain Subway has officially entered into a definitive agreement to undergo acquisition by Roark Capital’s affiliated entities. This significant step forward is a pivotal juncture in Subway’s ongoing transformative journey, as it melds the brand’s worldwide prominence and robust identity with Roark Capital’s profound proficiency in the realm of restaurant enterprises and franchise models.
Roark Capital, a formidable private equity firm managing a substantial $37 billion in assets, has garnered a reputation for its investments in both consumer-oriented and business service companies. Particularly acclaimed for its expertise in the realm of franchise and franchise-like ventures, Roark is well-regarded as a trusted collaborator for management and business proprietors alike.
In the words of John Chidsey, the CEO of Subway, “This strategic move underscores Subway’s immense potential for long-term growth, showcasing the true value inherent in our brand and the global network of our dedicated franchisees.” Chidsey further expressed optimism regarding Subway’s promising future in tandem with Roark Capital, affirming the commitment to a mutually beneficial approach benefiting franchisees, patrons, and employees alike.
The announcement of this acquisition arrives on the heels of Subway’s impressive achievement of ten consecutive quarters marked by positive same-store sales growth. The company remains resolute in its pursuit of its overarching strategy, characterized by a dedication to enhancing sales, pioneering menu innovations, revamping restaurant aesthetics, elevating the overall customer experience, and embarking on ambitious international expansion endeavors.
As Subway forges ahead into this new chapter, it has enlisted J.P. Morgan as its financial advisor, while Sullivan & Cromwell LLP lends its legal counsel. The timing of the transaction is contingent upon the fulfillment of regulatory requirements and customary closing conditions.
About Subway® Restaurants
Distinguished as one of the globe’s most expansive quick-service restaurant brands, Subway specializes in crafting made-to-order sandwiches, wraps, salads, and bowls, catered to the preferences of millions across more than 100 countries through nearly 37,000 restaurants on a daily basis. The operation of Subway restaurants is overseen by a network of dedicated franchisees, a collective of enterprising individuals and small business proprietors, all ardently committed to delivering unparalleled guest experiences within their respective local communities. For more updates from Subway, visit: newsroom.subway.com.
Subway® is a Registered Trademark of Subway IP LLC. © 2023 Subway IP LLC
About Roark Capital
Headquartered in Atlanta, Roark Capital stands as a potent force in the realm of private equity, entrusted with managing an impressive $37 billion in assets. The firm’s investment portfolio predominantly encompasses consumer-oriented and business service companies, and its forte lies in franchise and multi-location ventures within the retail, restaurant, consumer, and business services sectors. For additional information, please explore: www.roarkcapital.com.
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