Subway sale to Roark has been completed. Credit: Subway/ PRNewswire.

American sandwich chain Subway has concluded its sale to affiliates of private equity firm Roark.

The deal, first announced in August 2023, has been concluded after it received approval from federal regulators.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Although the companies did not disclose financial details, the winning bid exceeded $9.5bn according to reports by Reuters and Bloomberg.  

The acquisition by Roark follows a period of significant growth for Subway, with three consecutive years of sales increases and a positive global net restaurant growth recorded for the first time since 2016.

Neither its executive staff nor the overarching plan will alter following the takeover, and it will remain distinct from the rest of Roark’s brands.

Subway CEO John Chidsey said: “The entire Subway system is excited that our sale to Roark is complete.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“As we look to our future, our growth journey is far from over. With a continued strategic focus on delivering better food and a better guest experience, our next chapter will be the most exciting yet.”

Subway will continue its “Build a Better Subway” mission for its franchisees, employees and customers.

This includes a commitment to culinary and digital innovation, modernisation of its restaurants and strategic international expansion.

In 2024, the restaurant chain continued to innovate with the introduction of Subway Sidekicks, a new hot food category, and a fresh line-up of wraps served on a new lavash-style flatbread.

The company’s forward-looking strategy aims to enhance the Subway experience worldwide.