Subject: TNM
Subway® Sale to Roark is Complete
Transaction signals next phase of Subway's journey, capitalizing on three years of growth
MIAMI, April 30, 2024 /PRNewswire/ -- Subway®, one of the world's largest restaurant brands, today completed its previously announced sale to affiliates of Roark.
The acquisition comes on the heels of Subway's three exceptional years of sales growth and positive global net restaurant growth for the first time since 2016. The brand has continued to innovate in 2024, with the introduction of Subway Sidekicks, a hot new menu category, and a fresh lineup of signature wraps, served on a new lavash-style flatbread.
"The entire Subway system is excited that our sale to Roark is complete," said John Chidsey, CEO of Subway. "As we look to our future, our growth journey is far from over. With a continued strategic focus on delivering better food and a better guest experience, our next chapter will be the most exciting yet."
Looking ahead, the company will continue its work to Build a Better Subway for its franchisees, employees and guests with a focus on ongoing culinary and digital innovation, modernization of restaurants, and strategic international expansion. There are no anticipated changes to the company's leadership team, strategic focus or operating plans.
About Subway® Restaurants
As one of the world's largest quick service restaurant brands, Subway serves freshly made-to-order sandwiches, wraps, salads and bowls to millions of guests, across more than 100 countries and territories in nearly 37,000 restaurants every day. Subway restaurants are owned and operated by Subway franchisees?a network that includes thousands of dedicated entrepreneurs and small business owners?who are committed to delivering the best guest experience possible in their local communities.
For more Subway News visit: Newsroom (subway.com)
Subway® is a Registered Trademark of Subway IP LLC. © 2024 Subway IP LLC
About Roark
Roark is an Atlanta-based private equity firm with $38 billion in equity under management. Roark focuses on consumer and business service companies, with a specialization in franchise and multi-location businesses in the retail, restaurant, consumer and business services sectors. For more information, please visit www.roarkcapital.com.
SOURCE Subway
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