Subway Is Being Sold to a Massive Private-Equity Firm, Moving the Sandwich Chain Away From Family Ownership After Nearly 60 Years
August 28, 2023
Sandwich chain Subway, which has been family-owned for nearly 60 years, is being sold to private-equity company Roark Capital, known for owning brands like Arby’s, Dunkin’, Buffalo Wild Wings, and Jimmy John’s. After a period of declining sales and store closures, Subway has been undergoing a significant rebranding effort, partnering with celebrities, revamping its menu, and focusing on standardized sandwiches for quicker preparation. The acquisition by Roark Capital is seen as a move to tap into Subway’s growth potential and enhance its franchise value.
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