Sandwich chain Subway stated Thursday it will be offered to Roark Capital, a personal equity company with knowledge in diningestablishment management
ByDEE-ANN DURBIN AP Business Writer
File – The Subway logodesign is seen on takeout boxes at a diningestablishment in Londonderry, N.H., on Feb. 23,2018 The sandwich chain stated Thursday it will be offered to the personal equity company Roark Capital. Terms of the offer weren’t revealed. (AP Photo/Charles Krupa, File)
The Associated Press
Subway stated Thursday it will be offered to Roark Capital, a personal equity company with knowledge in diningestablishment management that might assistance the sandwich chain broaden and enhance its shops.
Terms of the offer weren’t divulged. Earlier this week, The Wall Street Journal reported that Atlanta-based Roark was offering around $9.6 billion for Subway, which is independently owned.
Subway CEO John Chidsey, who signedupwith the business in 2019, stated the offer shows Subway’s long-lasting development capacity and the worth of the brandname. Subway strategies to continue to improve diningestablishments and broaden globally under Roark’s ownership. Subway stated its management group will stay in location.
Roark is a personal equity company with $37 billion in properties under management. It specializes in franchised organizations and backs 2 holding business that own multipl