21. 08. 2023 | Kristýna Bezděková

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The American fast food chain Subway is likely to have a new owner. The business is expected to be taken over by investment group Roark Capital, which owns a number of not only fast-food franchises, for $9.6 billion (CZK 211.6 billion). It was reported by the Wall Street Journal (WSJ).

According to WSJ sources, the deal to sell Subway is expected to be finalized this week. Officially, the company does not comment on the matter. “Subway does not intend to comment further publicly on the process until the transaction is completed,” Subway responded to the WSJ in an email.

According to earlier reports by Reuters, TDR Capital and Sycamore Partners were also interested in the sandwich franchise and were to partner on the deal. However, it remains unclear whether they were able to meet the demands of Subway, which wanted to cash in more than $9 billion for the sale, which Roark Capital’s $9.6 billion offer met.

Roark Capital has a long history of investing in franchised consumer and retail companies. In the field of fast food restaurants, it owns, for example, Arbys, Buffalo Wings, The Cheesecake Factory, and the Czech Republic’s well-known Dunkin’ (formerly Dunkin Donuts).

Subway is one of the world’s largest fast food brands, but due to growing competition in sandwich sales, it has been closing branches in the US domestic market in recent years and expanding abroad instead.

The company operates a total of more than 37,000 restaurants in more than 100 countries. Headquartered in Connecticut, the company is owned by two families who founded it together more than 50 years ago.

Source, photo: reuters.com, pixabay.com

Kristýna Bezděková

Kristýna is a student of marketing and communication in an undergraduate program. She writes and translates content into the Czech language