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.
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SOURCE Subway