Subway purchased by private equity group that owns Dunkin, Jimmy Johns and many others

GON

GON

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Roark Capital is buying Subway, ending the sandwich chain’s more than five decades of family ownership and marking a new era for the struggling company.

The announcement Thursday ends the chain’s lengthy sale process, which publicly kicked off in February. Subway reportedly sought $10 billion, a high price that alienated many potential suitors like restaurant conglomerates, leaving only private equity firms to duke it out in an auction. Other reported bidders included TDR Capital and Sycamore Partners.

Subway and Roark did not announce a transaction price, but The Wall Street Journal reported Monday that the firm’s final bid was roughly $9.6 billion.

Roark’s current portfolio includes more than a dozen restaurant chains. Subway dwarfs all of them by number of restaurants, and brings in more annual sales than all but Dunkin’.

Through holding company Inspire Brands, Roark owns Dunkin’, Baskin-Robbins, Sonic, Arby’s, Buffalo Wild Wings and Jimmy John’s. Separately, housed under Focus Brands, the firm owns Auntie Anne’s, Carvel, Cinnabon, Jamba, McAlister’s, Moe’s Southwest Grill and Schlotzsky’s. Roark also invested $200 million in the Cheesecake Factory during the early days of the Covid pandemic to help the struggling chain stave off insolvency.

www.cnbc.com

Subway sandwich chain sells itself to private equity firm Roark Capital

The Roark deal ends more than five decades of private family ownership for Subway.
www.cnbc.com www.cnbc.com
 
GON, thanks for posting. Yes I saw this too. It made me think of another sub chain that I think may be defunct now.....that being Quiznos.

I knew one of their franchise owners and they told me that the parent company kept raising supply prices but would not let location owners raise the menu prices......and this put them personally in the "profit squeeze".

To the BITOG population, do you have any Quizno locations still open near you? If so, do you go there?
 
I personally know (5) people that own (6) shops. Jon Oliver had a pretty good tear on Subway and the previous owners seemed unconcerned about the issues faced in stores. Subway allowed stores to open too close to other shops and seemed primarily interested in getting fees from the stores. Lack of flexibility, lots of top down rules. "Free sandwich giveaways" without consulting store owners.

Hopefully a few things will change for the better.
 
I quit eating at Subway years ago. Seemed the food quality had gone down, or my taste expectations went up. The first Subway I ate at was in West Palm Beach, FL- I think about 1984.

I do like Jummy Johns, and like Jersey Mike's even more. I think if Subway can significantly increase their food quality, I will return to being a customer. But Subway using Arby's like heavily proceessed pressed meat product for many of their meats is not a match for my sub-sandwhich taste buds....
 
I always thought their subs were okay for the price. Cheapest food at SJU inside security while waiting for a flight.
Not so cheap anymore, although still okay.
Purchase by a vulture capital firm does not bode well for the future.
 
Wrenchturner44 said:
GON, thanks for posting. Yes I saw this too. It made me think of another sub chain that I think may be defunct now.....that being Quiznos.

I knew one of their franchise owners and they told me that the parent company kept raising supply prices but would not let location owners raise the menu prices......and this put them personally in the "profit squeeze".

To the BITOG population, do you have any Quizno locations still open near you? If so, do you go there?
Click to expand...
We have one Quiznos here in Sioux Falls, SD. It isn't very popular as it is in a very run down gas station in a sketchy part of town. Quiznos has fallen so far. I used to like them a lot more than Subway. Thought their taste was better.
 
This guy almost wrecked Subway the way Dylan M. destroyed Bud Lite.


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You Tube
 
Never minded Subway, always thought of it as a better alternative to McD's. Never as good as a sub from a "real" sub shop.

Quizno's, that was good. More expensive, and probably twice as a bad for me, but more than twice the taste.

These days I'd rather pack food from home. Although at least one of the grocery chains around here, their larger stores, seem to have warm food, ready to go. Not buffet but prepackaged. Starting to like that more. Not that I do that often.
 
Subway is OK if I’m in a rush and not in mood for hamburger or pizza.

I love their white chocolate macadamia nut and oatmeal cookies. 🤤

When I was in the military I would eat Subway 3 times per week.
 
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I have eaten too many Subway sandwiches over the years, to the point that they all began to taste like cardboard to me. I won't ever eat another one unless it is the ONLY option and I am starving. Chances are slim.
 
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Most chain restaurants are terrible I have tried Roark's holdings when out with friends,,, well no just plain no. Terrible in my opinion.
 
We'll grab Subway for lunch sometimes when on the road if it's convenient rather than make a lunch in the trailer. Locally the closest Subway is in the WalMart.... nope.

Really liked Quiznos when it opened in our hometown but the bread to ingredients ratio got too be too much and we lost interest.
 
Subway has gone stupid. The premium numbered sandwiches are premo, pricey, but good.

For some reason they think slicing meat is cool.. and most Subways look like crap after the recent remodel. They removed the tiles from the floors, so now you have a sealed concrete floor with leveling patch splotted all over the place. They also removed the Subway map wallpaper and put up cheap white panels. Removed benches for chairs.
...and a fancy Open sign.

So the remodel was a downgrade, also gone to paper bags since States think taxing plastic bags is a good ideal....and offering a gallon bag of tea for 7 bucks.

....I´m still wondering why Free WiFi still is not a thing there...... The Franchiser needs some good leadership to turn this ship around. Anyone know why slicing meat is a BIG DEAL? It´s not like they slice per order, they slice the meat and put it in the pans.
 
Subway changed a king time ago. Their bread suddenly became as flavorful as a cardboard box and their meats got cheap.

I used to like Hoagies Corner, a dilly of a deli but they are long gone.
 
Vern_in_IL said:
Subway has gone stupid. The premium numbered sandwiches are premo, pricey, but good.
Click to expand...
Glad it's not just me who has noticed. It's easy to pay something like triple what it was just a few years ago.

I like their food and it's easy to find something tasty. But they've not just kept up with inflation, they're setting the pace!
 
Truly ironic how they flourished with Jared as their spokesman. Now they need elite NFL qb's.
 
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