Who Bought Subway? Chain Sells for Billions to Roark Capital – Entrepreneur
Key Takeaways
- Subway has been trying to revamp the brand with restaurant renovations.
- Roark reportedly offered Subway $9.6 billion after it was listed for sale in February for $10 billion.
After nearly six decades as a family-owned business, Subway has been sold to private equity firm Roark Capital in a groundbreaking deal – but it’s not the only sandwich joint in the firm’s portfolio.
The sale puts Subway under the same umbrella as rival Jimmy John’s, which is controlled by Inspire Brands also owned by Roark Capital.
The sandwich giant announced the news in a press release on Thursday, and although terms of the deal weren’t disclosed, the Wall Street Journal previously reported that Roark offered Subway $9.6 billion after it was listed for sale in February for $10 billion.
RELATED: Nearly 10,000 People Agree to Make a Legally Binding, Lifetime Commitment for Free Subway Sandwiches
Photo by Xavi Lopez/SOPA Images/LightRocket via Getty Images | Pedestrians walking past a…
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