Subway Bought by Arby’s Owner Roark Capital
Popular sandwich chain Subway has been bought by private equity firm Roark Capital, the same company that owns Arby's as well as other food chains.
Subway Bought By Arby's Owner Roark Capital
According to WBRZ, the details of the final sale have not been made available, however The Wall Street Journal has reported that Roark Capital was offering $9.6 billion.
Subway is privately owned, still owned by its founding families.
Roark Capital also owns Arby's, Buffalo Wild Wings, and Dunkin'.
Subway CEO John Chidsey says the sale speaks to the strong value of the brand and ensures the expansion and modernization of the chain.
From WBRZ -
"Roark is a private equity firm with $37 billion in assets under management.
It specializes in franchised businesses and owns multiple restaurant chains, including Arby’s, Dunkin’, and Buffalo Wild Wings."
Subway is one of the largest food chains in the world operating 37,000 stores in more than 100 countries across the world.
Read more at WBRZ.com.