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Subway has a new owner: food behemoth Roark Capital. The deal closed on Thursday before market open. WSJ previously reported that the bid valued the sandwich chain for about $9.6 billion.
Subway's core product is the submarine sandwich (or "sub"). It also sells wraps, salad, paninis, and baked goods (including cookies, doughnuts, and muffins). Subway also sells breakfast sandwiches, English muffins, and flatbread. In 2006, "personal pizzas" debuted in some US markets. These are made to order (like the subs) and heated for 85 ...
Subway has sold itself to private equity firm Roark Capital, ending a six-month long search for a buyer. It brings to an end the sandwich chain’s near six-decade run as a family-owned business.
Inspire Brands LLC is an American fast-food restaurant franchise company. Owned by Roark Capital Group, it owns the Arby's, Buffalo Wild Wings, Sonic Drive-In, Jimmy John's, Mister Donut, Dunkin' Donuts, and Baskin-Robbins chains, which have a combined 31,700 locations and US$30 billion in system sales.
After reading an article about an Indiana man who lost 245 pounds (111 kg) eating Subway Sandwiches, Fred DeLuca met Jared Fogle, bought him a new Mitsubishi Galant, and made him Subway's featured spokesman by 2000. [14] [15] After Fogle became Subway's spokesman, sales and store openings started to skyrocket. [13] [16] [17] [15]
Subway notes that its transition to Pepsi in its U.S. restaurants will start in 2025 but roll out over the course of several months. The United States will join Subway franchises in Canada ...
In 2023, it was announced that Buck had bequeathed his 50% stake in Subway to the foundation, a gift estimated to be worth approximately $5 billion based on Subway's potential sale value. [15] This donation is among the largest single contributions to a charitable foundation in a single year.
Subway has 37,000 locations and is the largest restaurant chain in the world. It has lost substantial ground to competitors in recent years, though, closing 6,000 U.S. stores between 2015 and 2021.