In a major milestone in Subway's multi-year transformation, Subway last week announced that it has entered into a definitive agreement to be acquired by affiliates of Roark Capital.
The transaction combines Subway's global presence and brand strength with Roark's expertise in restaurant and franchise business models, according to a release.
Terms of the deal weren't disclosed. The sale ends the nearly six-decade run as a family-owned business. The Wall Street Journal reported the purchase price was "around $9.6 billion," which would be slightly below the chain's $10 billion asking price.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.