: Sandwich maker Subway near $10 billion deal to be sold to private-equity firm: report

by | Aug 22, 2023 | Stock Market

The Subway sandwich shop chain is set to be sold to a private-equity firm for $9.6 billion, according to a report. The Wall Street Journal reported that Roark Capital has pulled ahead of rival bidders TDR and Sycamore to acquire the company, though it is still possible another group could come back with a higher offer.

Subway had $9.8 billion in domestic sales last year, the report said, quoting market-research firm Technomic, though sales peaked in 2012. Roark’s portfolio includes a host of restaurant and food icons, including the fast-food chains Arby’s, Carl’s Jr., and Jimmy John’s.

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