According to the Wall Street Journal, Roark Capital looks to acquire sandwich chain Subway for close to $9.6 billion. The deal will add to Roark Capital’s already impressive roster of fast food chains is nearly complete.
In a statement emailed to Reuters, the company said, “Subway does not intend to make any further public comment regarding the process until the transaction has been completed.”
In February of this year, Subway revealed that the company was exploring a potential sale. At the time, private equity firms TDR Capital and Sycamore Partners were in talks to partner and pursue the acquisition. Despite their interest, Subway was uncertain whether TDR and Sycamore could afford its $9 billion price tag. A group led by Roark Capital was later revealed to be also in the running.
Roark Capital is a private equity firm that mostly invests in the franchised consumer and business services sectors. One of the firm's most notable investments is in Inspire Brands, which owns Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, and more.
Feature photo: Subway
