Subway has agreed to sell itself to private equity firm Roark Capital, the owner of Dunkin Donuts and Arby’s, in a deal rumoured to be worth $9.55bn (£7.55bn).
Earlier this year the sandwich maker said it was exploring options to sell the business, which has been in hands of the DeLuca and Buck families for 60 years.
At one point, the billionaire brothers behind Asda were said to be sizing up a purchase of the highstreet eatery, as the chain runs in 6,300 of its EG fore courts globally.
Now, Subway’s 44,000 strong estate will be in the hands of the Roark Capital, which owns a slew of fast food chains in the US including ice cream parlour Baskin Robbins.
Neither parties disclosed a figure for the deal, but according to Retuers the group dished out $9.55bn (£7.55bn) to get their hands on the chain.
City A.M has contacted Subway for a response.
Subway grew in popularity as consumers saw it as a healthier alternative to typical fast food spots.
It has continued to perform well, posting a 9.8 per cent increase in same-store sales globally in the first half of the year.
“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” said John Chidsey, CEO of Subway.
“Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests and our employees.”