Subway Sells Itself to Private Equity Firm

Subway has been a family-owned business for nearly six decades. Now, the sandwich chain has sold itself to private equity firm Roark Capital.

Subway announced in a statement this acquisition agreement as a “major milestone” and part of the company’s “multi-year transformation journey.”

“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” said John Chidsey, CEO of Subway. “Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests and our employees.”

Roark is a private equity firm that has investments in many other large restaurant chains like Arby’s, Auntie Anne’s, Buffalo Wild Wings, Sonic and more, according to CNN. 

The terms of the agreement have not been disclosed yet. 

In recent years, Subway has made positive strides towards increasing sales with a revamped menu and in-store, fresh meat slicing.