Subway in advanced talks to sell itself for $9.6 billion - WSJ

August 22, 2023 9:15 AM EDT

Private equity firm Roark Capital is nearing the completion of a deal to acquire the Subway sandwich chain for approximately $9.6 billion, according to Wall Street Journal.

Following a competitive auction process, the deal is expected to be finalized this week, pending any potential higher counteroffers from competing private-equity groups.

Subway, has been owned by its founding families for over fifty years. The company officially enlisted advisers to manage the sale process in February.

Subway ranks as the eighth-largest restaurant chain in the United States. In the previous year, the chain generated $9.8 billion in domestic sales from its 20,810 locations, according to market research firm Technomic.

Globally, Subway operates around 37,000 restaurants.

By Senad Karaahmetovic

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