Subway has been purchased by a private company called Roark Capital, putting an end to a six-month hunt for someone to buy the company. The reports said that Roark Capital had offered about $ 9.6 billion to buy Sandwich chain Subway.
Subway, the place where you can buy sandwiches and snacks, has been bought by a company called Roark Capital for 9.6 billion dollars (apparently). This same company also owns other familiar places like Arby’s (known for roast beef sandwiches). Also Dunkin’ (known for coffee and donuts), and Jimmy John’s (known for fast sandwiches). Moreover, Baskin-Robbins (known for ice cream), and Buffalo Wild Wings (known for chicken wings) as well.
The news about this purchase came out on August 24, 2023. The process of finalizing the deal is expected to be completed by early 2024. Even though we don’t know all the exact details. People are saying that the deal is worth a lot of money, around $9.6 billion!
Subway’s leaders announced that they plan to open around 23,000 new stores worldwide after the rumored deal. However, this will increase the total number of Subway locations to an impressive 33,679 around the world.
This marks the newest chapter in the story of Subway, which began as a single sandwich shop in 1965. From those humble beginnings, it has grown to become the most widely available fast-food choice globally. The company was started by a former nuclear physicist and a brave teenager, and it has stayed within the family ever since.
Who Is Roark Ark?
Roark Capital is a special kind of company. They have money, and they use it to help restaurants that are having a tough time. They believe they can make those struggling restaurants better. Subway is one of those places that hasn’t been doing very well lately. Not many people are going there to buy their food, and there are also fewer Subway restaurants around. Roark Capital thinks they can help Subway by telling more people about it through advertising, and by making the food taste even better.
This deal where Subway is being bought by Roark Capital is really important in the world of restaurants. It’s the biggest sale of a restaurant since 2014 when another company bought Burger King. Roark is a private equity firm with $37 billion in assets under management. However, it specializes in franchised businesses and owns multiple restaurant chains, including Arby’s, Dunkin’, Auntie Anne’s, Sonic, and Buffalo Wild Wings.
