Subway announced its intention to find a buyer at the beginning of 2023, with reports saying that the company was asking north of $10 billion. The company hired JPMorgan Chase & Co. as advisors and targeted June for finalizing the process.

More than 10 private-equity firms were rumored to have made a bid for Subway. TDR Capital and Sycamore Partners even considered joining their forces in attempts to acquire the fast food chain, but Roark Capital now beat them to the punch.

Subways recently made efforts to improve slumping sales by reworking their menu, increasing spending on marketing, and revamping their restaurants. These moves seem to be giving some results early on, as the company saw a 9.3% increase in same-store sales in the first two quarters of 2023.

Subway declined to share details about the acquisition process when reached out to by Reuters.

“Subway does not intend to make any further public comment regarding the process until the transaction has been completed,” the company said in a statement.

The post Roark Capital Finalizing Acquisition of Subway in a $9.6 Billion Deal appeared first on theprimarymarket.com.

Subway’s same-store sales in North America saw a jump of 11.7% compared to the same period in 2022. Digital sales were even more encouraging, rising 21.2%. This helped the company maintain its streak of positive sales growth, which now extended to nine straight quarters.

“With strong sales momentum across our restaurants and a refreshed focus on strategic brand growth, there has never been a more exciting time to be part of the Subway brand, “said CEO John Chidsey in a press release.

The sales growth will go a long way in Subway’s continued efforts to find a buyer. The company has been looking to sell itself for a while now, and according to Chidsey’s recent comments, the deal will come sooner than later.

Back in early April, The Wall Street Journal reported that Subway is valuing itself at $10 billion. While there is uncertainty about whether the company will get its asking price, there are more than 10 buyers currently engaged in the bidding process. A sale process is expected to wrap up at some point in May. 

The post Subway Reports 12.1% Increase in Global Same-Store Sales appeared first on theprimarymarket.com.

Subway announced its intention to find a buyer at the beginning of 2023, with reports saying that the company was asking north of $10 billion. The company hired JPMorgan Chase & Co. as advisors and targeted June for finalizing the process.

More than 10 private-equity firms were rumored to have made a bid for Subway. TDR Capital and Sycamore Partners even considered joining their forces in attempts to acquire the fast food chain, but Roark Capital now beat them to the punch.

Subways recently made efforts to improve slumping sales by reworking their menu, increasing spending on marketing, and revamping their restaurants. These moves seem to be giving some results early on, as the company saw a 9.3% increase in same-store sales in the first two quarters of 2023.

Subway declined to share details about the acquisition process when reached out to by Reuters.

“Subway does not intend to make any further public comment regarding the process until the transaction has been completed,” the company said in a statement.

The post Roark Capital Finalizing Acquisition of Subway in a $9.6 Billion Deal appeared first on theprimarymarket.com.

Subway’s same-store sales in North America saw a jump of 11.7% compared to the same period in 2022. Digital sales were even more encouraging, rising 21.2%. This helped the company maintain its streak of positive sales growth, which now extended to nine straight quarters.

“With strong sales momentum across our restaurants and a refreshed focus on strategic brand growth, there has never been a more exciting time to be part of the Subway brand, “said CEO John Chidsey in a press release.

The sales growth will go a long way in Subway’s continued efforts to find a buyer. The company has been looking to sell itself for a while now, and according to Chidsey’s recent comments, the deal will come sooner than later.

Back in early April, The Wall Street Journal reported that Subway is valuing itself at $10 billion. While there is uncertainty about whether the company will get its asking price, there are more than 10 buyers currently engaged in the bidding process. A sale process is expected to wrap up at some point in May. 

The post Subway Reports 12.1% Increase in Global Same-Store Sales appeared first on theprimarymarket.com.