Subway as we speak introduced that it has entered right into a definitive settlement to be acquired by associates of Roark Capital. The transaction is a significant milestone in Subway’s multi-year transformation journey, combining Subway’s international presence and model energy with Roark’s deep experience in restaurant and franchise enterprise fashions.
Roark is a personal fairness agency with $37 billion in property beneath administration. Roark focuses on investments in shopper and enterprise service firms, with a specialization in franchise and franchise-like companies, and prides itself on being a trusted companion for administration and enterprise house owners.
“This transaction displays Subway’s long-term development potential, and the substantial worth of our model and our franchisees all over the world,” mentioned John Chidsey, CEO of Subway. “Subway has a shiny future with Roark, and we’re dedicated to persevering with to concentrate on a win-win-win strategy for our franchisees, our friends and our workers.”
The transaction comes on the heels of Subway saying its consecutive quarter of optimistic similar retailer gross sales. The corporate will proceed to execute its technique with a concentrate on gross sales development, menu innovation, modernization of eating places, total visitor expertise enhancements, and worldwide enlargement.
J.P. Morgan is serving as monetary advisor and Sullivan & Cromwell LLP is serving as authorized counsel to Subway. Timing is topic to regulatory approvals and customary closing situations.
Roark is an Atlanta-based non-public fairness agency with $37 billion in property beneath administration. Roark focuses on investments in shopper and enterprise service firms, with a specialization on franchise and multi-location companies within the retail, restaurant, shopper and enterprise providers sectors.
