Subway agrees circa $9.5bn sale to Roark Capital: Global sandwich chain Subway has announced it has agreed a deal, believed to be valued at circa $9.5bn (£7.52bn), to be sold to US-based firm Roark Capital, which already owns restaurant brands such as Arby’s and Buffalo Wild Wings. The business said the transaction is a “major milestone” in Subway’s multi-year transformation journey, combining the company’s global presence and brand strength with “Roark’s deep expertise in restaurant and franchise business models”. Subway currently has nearly 37,000 outlets in more than 100 countries, including more than 2,300 restaurants in the UK and Ireland. Roark is a private equity firm with $37bn in assets under management. It focuses on investments in consumer and business service companies, with a specialisation in franchise and franchise-like businesses, and “prides itself on being a trusted partner for management and business owners”. The Subway deal will make Roark Capital one of the largest restaurant operators in the world. It already controls US restaurant giant Inspire Brands, which owns chains including Jimmy John’s, Arby’s, Baskin-Robbins and Buffalo Wild Wings. It is thought that Subway will remain a separate entity. John Chidsey, chief executive of Subway, said: “This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world. 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.” The transaction comes after Subway recently reported its tenth consecutive quarter of positive same store sales. The company said it will continue to execute its strategy with a focus on “sales growth, menu innovation, modernisation of restaurants, overall guest experience improvements and international expansion”. Subway was founded in 1965 by 17-year-old Fred DeLuca and family friend Peter Buck. The company has been owned by the founding families since its first outlet opened as Pete’s Super Submarines in Bridgeport, Connecticut.

One day to go before release of updated Premium Database of Multi-site Companies, 62 businesses being added: A total of 62 new multi-site companies, operating 323 sites, have been added to the next edition of the Propel Premium Database of Multi-site Companies, which will be released tomorrow, Friday 25 August, at midday. The updated Propel Multi-Site Database, which is produced in association with Virgate, includes regional coffee shop operators, growing restaurant brands, and expanding experiential concepts. Premium subscribers will also receive a 4,000-word report on the new additions to the database. The comprehensive database is updated monthly and provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. The database now features 2,943 companies. Premium subscribers also receive access to five other databases: the New Openings Database; the Propel Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; and the Who’s Who of UK Food and Beverage. Premium subscribers have now received the new UK Food and Beverage Franchisee Database – the first time that profiles of 100 of the top food and beverage franchisees have been available in one place in the UK. The go-to database, which features many of the big franchise operators running Costa Coffee, McDonald’s and Domino’s sites, brings together a wealth of information on an increasingly important part of the market, and the first edition features more than 32,000 words of content. The sixth major database exclusive to Premium subscribers, it will be sent out bi-monthly, including new entries and updates to existing entries. The companies, listed in alphabetical order, will have their most recent results reported as well as broader information around the company’s background, site numbers and board make-up. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Premium subscribers are also being given exclusive access to the recording and slides to Propel Multi-Club Conferences. They also receive their morning newsletter 11 hours early, at 7pm the evening before; regular video content and regular exclusive columns from Propel group editor Mark Wingett.