Deals
Roark Capital Wins Bidding for Subway in $9 Billion Deal
- Deal for Subway valued at roughly $9.55 billion, sources say
- Roark beat out competition from TDR, Sycamore bid group
A Subway sandwich.
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Roark Capital Group has won the race to acquire US sandwich chain Subway after seeing off a late challenge from a rival bid group led by TDR Capital and Sycamore Partners.
The private equity firm has entered into a definitive agreement to buy Subway, according to a statement on Thursday. Financial details were not disclosed. Bloomberg News reported earlier today that Roark was putting the final touches on its takeover of the company.