Subway Sandwich Company Acquired by Roark Capital in Multi-Billion Dollar Deal

Private equity firm Roark Capital has acquired Subway, the sandwich company, for $9.6 billion. The deal, one of the biggest fast food acquisitions ever, does not include the earn-out. Roark Capital, with a $37 billion asset value, has an extensive food portfolio that includes brands like Arby's, Auntie Anne's, and Buffalo Wild Wings. Subway plans to focus on sales growth, menu innovation, restaurant modernization, enhancing the guest experience, and global expansion. The company has faced rising competition and a decline in market share but experienced a 9.85% rise in same-store sales during the first half of 2023.