Subway with 37,000 branches sold in huge deal – and CEO says fans will notice the difference
SUBWAY has reportedly been sold to Roark Capital Group for an undisclosed price.
Subway’s chief executive officer John Chidsey said the deal will “help spread tens of thousands of new locations around the world.”
Previously, The Wall Street Journal reported Subway would be selling its company for $9.6billion.
The sandwich chain has been run and operated by two families over the past sixty years, meaning most profits have gone toward the founder family.
This is the first time in decades the fast food giant faces new ownership.
Atlanta-based Roark Capital secured the bid over TDR Capital and Sycamore Partners, who were also interested in acquiring Subway.
To date, Subway operates 37,000 sandwich store locations globally.
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