{"id":1272821,"date":"2023-08-27T11:13:18","date_gmt":"2023-08-27T05:43:18","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1272821"},"modified":"2023-08-27T11:13:54","modified_gmt":"2023-08-27T05:43:54","slug":"subway-sold-for-rs-80000-crore-this-company-is-now-the-owner-of-subway-brand","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/subway-sold-for-rs-80000-crore-this-company-is-now-the-owner-of-subway-brand\/","title":{"rendered":"Subway Sold For Rs 80,000 Crore: This Company Is Now The Owner Of Subway Brand"},"content":{"rendered":"\n

Subway is selling itself to private equity Roark Capital for $9.55 billion after a long-drawn auction that attracted several competing bids.<\/p>\n\n\n\n

\"Subway<\/figure>\n\n\n\n

Deal particulars<\/strong><\/p>\n\n\n\n

The deal was valued at $8.95 billion, excluding the earn-out target, sources said.<\/p>\n\n\n\n

Roark and Subway have to close the deal in 12 months.<\/p>\n\n\n\n

It involves a 4% breakup <\/a>fee which covers the possibility of antitrust regulators thwarting the deal.<\/p>\n\n\n\n

Roark outbid a late challenge from a rival bidding group led by TDR Capital and Sycamore Partners.<\/p>\n\n\n\n

Both had submitted a final bid of $8.75 billion or $8.25 billion excluding an earn-out.<\/p>\n\n\n\n

The incoming owner<\/strong><\/p>\n\n\n\n

The deal will make Roark Capital one of the largest restaurant operators in the world.<\/p>\n\n\n\n

It controls Inspire Brands, the owner of restaurant chains including Jimmy John’s, Arby’s, Baskin-Robbins and Buffalo Wild Wings.<\/p>\n\n\n\n

It brings to the table its expertise in helping restaurant brands grow, “especially in the U.S. market where it remains well below the peak it hit a few years ago”, said Neil Saunders, managing director of GlobalData.<\/p>\n\n\n\n

US business<\/strong><\/p>\n\n\n\n

Subway had hoped to fetch more than $10 billion, owing to its strong brand and international business.<\/p>\n\n\n\n

However the bids countered a lower valuation as they deemed its U.S. business saturated.<\/p>\n\n\n\n

Since its launch in 1965, Subway had to struggle with competition from rivals for several years.<\/p>\n\n\n\n

It started to make a turnaround after revamping its menu and increased marketing spend in 2021.<\/p>\n\n\n\n

Its efforts bore fruit as Subway’s same-store sales in North America rose 9.3% in the first half of 2023.<\/p>\n\n\n\n

Next steps <\/strong><\/p>\n\n\n\n

Subway now has to attach conditions to some of the windfall the two owning families will get. <\/p>\n\n\n\n

These are known as an earn-out, which postpones payment on part of the deal consideration.<\/p>\n\n\n\n

To get the full price, certain milestones will have to be reached over a specified period after the deal closes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Subway is selling itself to private equity Roark Capital for $9.55 billion after a long-drawn auction that attracted several competing bids. Deal particulars The deal was valued at $8.95 billion, excluding the earn-out target, sources said. Roark and Subway have to close the deal in 12 months. It involves a 4% breakup fee which covers […]<\/p>\n","protected":false},"author":24,"featured_media":1272848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3270],"class_list":["post-1272821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-subway"],"acf":[],"yoast_head":"\nSubway Sold For Rs 80,000 Crore: This Company Is Now The Owner Of Subway Brand - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/subway-sold-for-rs-80000-crore-this-company-is-now-the-owner-of-subway-brand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Subway Sold For Rs 80,000 Crore: This Company Is Now The Owner Of Subway Brand - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Subway is selling itself to private equity Roark Capital for $9.55 billion after a long-drawn auction that attracted several competing bids. 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