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Friday, jan 10
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Sullivan & Cromwell LLP
Business
Ct-b
ased Subway Announces Sale: Company Has 'Bright Future,' CEO Says
The iconic sandwich seller Subway, which is headquartered in Connecticut, has announced its sale to a private equity firm. The New Haven County-based fast food company, which is headquartered in Milford, announced that it will be acquired by affiliates of Roark Capital on Thursday, Aug. 24. In a statement, Subway officials said the sale would be a "major milestone" in the company's history. "This transaction reflects Subway's long-term growth potential, and the substantial value of our brand and our franchisees around the world," said Chief Executive Officer John Chid…
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