American fast food chain Subway will likely have a new owner soon, as investment group Roark Capital is set to acquire the company for $9.6 billion. According to the Wall Street Journal, Roark Capital owns several fast-food franchises and is expected to finalize the deal this week.
Although Subway has not commented on the deal, sources suggest it will be completed soon. TDR Capital and Sycamore Partners had also expressed interest in the sandwich franchise earlier. Still, it remains unclear whether they could meet Subway’s demands for a sale price of over $9 billion, which Roark Capital’s offer of $9.6 billion meets.
Roark Capital has a history of investing in consumer and business franchises. The company owns several other fast food chains, including Arby’s, Buffalo Wings, The Cheesecake Factory, and Dunkin’ Donuts, known as Dunkin’ in the Czech Republic.
Subway is one of the largest fast-food brands in the world, with over 37,000 restaurants in more than 100 countries. However, the company has been closing branches in the US and expanding overseas due to increasing competition in the sandwich market in recent years.
The company is based in Connecticut and is owned by two families who founded it over 50 years ago. Subway operates 11 restaurants in the Czech Republic, including four in Prague and Brno, two in Ostrava, and one in Olomouc.
As Subway prepares for a new chapter under new ownership, customers and investors will watch closely to see how the company evolves in the coming years.