Subway has announced that Roark Capital, the U.S. Atlanta-based private equity company, is acquiring its global brand.
The quick service restaurant franchise with nearly 37,000 stores across more than 100 countries, says that this transaction is a major milestone in its multi-year transformation journey.
Roark Capital focuses on investments in consumer and business service companies, specialising in franchise and franchise-like businesses, and says it prides itself on being a trusted partner for management and business owners.
‘Long-term growth potential’
John Chidsey, chief executive officer of Subway, said: “This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world.
“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 acquisition comes on the heels of Subway announcing its 10th consecutive quarter of positive same store sales as it continues to focus on sales growth, menu innovation, modernisation of restaurants, guest experience and international expansion.
J.P. Morgan is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Subway.