Subway to be Acquired by Roark Capital Group in $9.6 Billion Deal

The sandwich chain Subway will be sold to the private equity firm Roark Capital Group for $9.6 billion. Subway has struggled financially in recent years as more consumers opted for fresher fast-food options from restaurants like Chipotle and Panera Bread. Roark Capital Group focuses on restaurant, retail, and consumer product investments. They own other restaurant brands like Arby's, Buffalo Wild Wings, and Sonic Drive-In. The sale is expected to close before the end of 2022. Subway executives said Roark Capital Group is committed to helping Subway restaurants succeed in today's retail environment.