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Friday, November 22, 2024

Roark Group successfully acquires Subway sandwich chain

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Subway, the American sandwich chain, has finalized its sale to affiliates of the private equity firm Roark.

The agreement, initially disclosed in August 2023, has been finalized following approval from federal regulators.

While the financial specifics were not publicly disclosed by the companies, reports from Reuters and Bloomberg suggest that the winning bid surpassed $9.5 billion.

Roark’s acquisition comes on the heels of a notable growth phase for Subway, marked by three consecutive years of sales upticks and the first positive global net restaurant growth since 2016.

Continue Exploring: Subway partners with T. Marzetti to launch bottled sauces in retail stores

Following the takeover, neither its executive staff nor the overarching plan will change, and it will continue to maintain its distinctiveness from the rest of Roark’s brands.

Subway CEO John Chidsey expressed, “The entire Subway system is thrilled that our sale to Roark has been finalized.”

“As we gaze ahead, our journey of growth is still unfolding. With an ongoing strategic commitment to providing superior food and enhancing the guest experience, our forthcoming chapter promises to be the most thrilling yet.”

Subway remains committed to its “Build a Better Subway” mission for its franchisees, employees, and customers alike.

This encompasses a dedication to culinary and digital advancements, the modernization of its restaurants, and a strategic expansion into international markets.

In 2024, the restaurant chain furthered its innovation by introducing Subway Sidekicks, a new category of hot food, along with a fresh selection of wraps served on a new lavash-style flatbread.

The company’s forward-thinking strategy is geared towards enriching the Subway experience on a global scale.

Continue Exploring: Subway unveils new lavash-style wraps, expanding bread lineup for first time in three years

SnackTeam
SnackTeamhttps://snackfax.com
SnackTeam is a specialised group of editorial staff motivated to improve the lives of individuals and society. The team intends to bring the most authentic, well-researched and dependable content for you and your loved ones every day.
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