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Subway bought by Roark Capital, parent company of Jimmy John's and other restaurant franchises

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Roark Capital, a private equity firm with expertise in restaurant and franchise businesses, has purchased sandwich chain Subway.

The announcement follows Subway's 10th consecutive quarter of positive same store results, the company said, adding that it "will continue to execute its strategy with a focus on sales growth, menu innovation, modernization of restaurants, overall guest experience improvements, and international expansion.

According to the Thursday's release, J.P. Morgan is serving as financial adviser on the sale and SullivanThe price of the sale was not disclosed and timing is subject to regulatory approvals and customary closing conditions.

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Subway bought by Roark Capital, parent company of Jimmy John'sRoark Capital, a private equity firm with expertise in restaurant and franchise businesses, has purchased sandwich chain Subway.
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