Subway announced that it has entered into a definitive agreement to be acquired by affiliates of Roark Capital. Roark is a private equity firm with $37B in assets under management that focuses on investments in consumer and business service companies. Timing of the deal closing is subject to regulatory approvals and customary closing conditions. Publicly traded restaurant operating companies that rival Subway in terms of units include McDonald’s (MCD), Starbucks (SBUX), Yum! Brands (YUM), Wendy’s (WEN) and Restaurant Brands’ (QSR) Burger King.
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