Connecticut-based Subway to be sold to private equity firm
Connecticut-based Subway announced Thursday that it will be sold.
The Milford-based sandwich company is set to be acquired by Roark Capital, a private equity firm whose investments include Arby’s and Buffalo Wild Wings, among other eateries.
Terms of the deal weren’t made public, but the Wall Street Journal had indicated earlier this week that the price was over $9 billion.
Subway has been owned by the same two founding families since it first opened its doors in Bridgeport in 1965.
Subway announced last year that it is moving its global headquarters from Milford to Shelton.
"Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests and our employees,” said Subway CEO John Chidsey.