Roark Capital Group, a private equity firm, is among the potential buyers competing to acquire the Subway sandwich chain. Other private equity firms are also reportedly considering bidding on the Milford, Connecticut-based company. Subway is looking for a valuation of over $10 billion, but some potential buyers may value the business at around $8 billion. No final decision has been made and Roark may decide not to pursue a deal for Subway.
Subway has approximately 37,000 franchise-run locations in over 100 countries, making it one of the world's largest restaurant chains. The company announced in February that it was considering a sale and was working with JPMorgan Chase & Co. Roark Capital, which is based in Atlanta and led by Managing Partner Neal Aronson and President Paul Ginsberg, has supported several restaurant chains, including Arby's, Dunkin' Donuts, Carvel, and Carl's Jr.
