NEW YORK, Aug 24 — The Subway sandwich chain announced today that it reached a deal to be acquired by Roark Capital, a private equity firm active in the restaurant and prepared...
NEW YORK, Aug 24 — The Subway sandwich chain announced today that it reached a deal to be acquired by Roark Capital, a private equity firm active in the restaurant and prepared foods sectors.
The Wall Street Journal previously reported that a Roark offer of US$9.6 billion had led a competitive auction. Atlanta-based Roark already owns many brands including Buffalo Wild Wings, Baskin-Robbins and Seattle’s Best Coffee, as well as other assets including Orange Theory gyms.Neil Saunders of GlobalData Retail said Roark’s strong operating experience will help Subway “especially in the US market where it remains well below the peak it hit a few years ago.”
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