Categories: Economy

Sandwich chain sold for $9.6 billion

Subway sandwich chain sells for $9.6 billion

Atlanta-based private investment group Roark Capital has reportedly reached an agreement to acquire sandwich chain Subway.

Founded in 1965 and with approximately 37,000 restaurants in more than 100 countries, Subway accepted a takeover offer from private equity firm Roark Capital, Subway said in a statement.

While Subway and Roark Capital did not disclose the terms or financial details of the deal, the Wall Street Journal reported yesterday that Roark Capital’s final offer for Subway is approximately $9.6 billion.

FOOD GIANT

Roark Capital manages $37 billion in assets, while the company controls Inspire Brands, which owns restaurant chains including Jimmy John’s, Arby’s, Baskin-Robbins and Buffalo Wild Wings.

The acquisition is expected to make Roark Capital one of the largest restaurant operators in the world. (AA)

Source: Sozcu

Andrew

Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.