Commissar SFLUFAN Posted August 24, 2023 Share Posted August 24, 2023 Sandwich chain Subway to sell itself for $9.55 bln to Roark Capital - sources | Reuters WWW.REUTERS.COM Subway would sell itself to private equity Roark Capital for $9.55 billion after agreeing to attach conditions to some of the windfall the two families that own it will get, sources said, ending a long-drawn auction that saw several competing bids. Quote Subway would sell itself to private equity Roark Capital for $9.55 billion after agreeing to attach conditions to some of the windfall the two families that own it will get, sources said, ending a long-drawn auction that saw several competing bids. These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said. For the full price to be paid, Subway's cash flow would need to reach certain milestones over a specified period after the deal closes, they said. The deal was valued at $8.95 billion, excluding the earn-out target, sources said. The Roark Capital Empire: https://www.roarkcapital.com/portfolio Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 tl;dr version please Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 24, 2023 Author Share Posted August 24, 2023 13 minutes ago, best3444 said: tl;dr version please That is it - Subway sold itself to a private equity firm for nearly $10 billion. Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 Just now, Commissar SFLUFAN said: That is it - Subway sold itself to a private equity firm for nearly $10 billion. So I'm assuming there will still be Subway but it's just owned by the new firm? Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted August 24, 2023 Share Posted August 24, 2023 I'm surprised it's worth that much since most franchisees don't last and the parent lets them eat each other alive. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 24, 2023 Author Share Posted August 24, 2023 2 minutes ago, best3444 said: So I'm assuming there will still be Subway but it's just owned by the new firm? Correct. 2 1 Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted August 24, 2023 Share Posted August 24, 2023 So Arby's and Subway will be brothers. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 24, 2023 Share Posted August 24, 2023 Really curious to see how private equity ruins this already terrible company! 1 1 Quote Link to comment Share on other sites More sharing options...
TwinIon Posted August 24, 2023 Share Posted August 24, 2023 Over the years I've read a few things about how terrible Subway corporate is and how ruthless they are at the expense of their franchisees. Not really sure how much worse they can get. Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 #bringbackjared Spoiler 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 24, 2023 Author Share Posted August 24, 2023 6 minutes ago, TwinIon said: Not really sure how much worse they can get. We're about to find out! 1 Quote Link to comment Share on other sites More sharing options...
Dodger Posted August 24, 2023 Share Posted August 24, 2023 Subway feels like the Gamestop of fast food and i can't remember the last time I stepped foot in either one of them. Quote Link to comment Share on other sites More sharing options...
Bacon Posted August 24, 2023 Share Posted August 24, 2023 The last time I stepped into a subway was pre-pandemic. And it wasn't even a real subway, but one attached to a walmart. It smelled good so I got my regular order of a bacon and meatball sub with mozz cheese - toasted. I enjoyed it as I always have. Quote Link to comment Share on other sites More sharing options...
TheLeon Posted August 24, 2023 Share Posted August 24, 2023 As a fan of trash food, I’ve lived within easy walking distance of a Subway for 6 years now, and have never been in it. Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted August 24, 2023 Share Posted August 24, 2023 3 minutes ago, TheLeon said: As a fan of trash food, I’ve lived within easy walking distance of a Subway for 6 years now, and have never been in it. Everybody in the US lives within walking distance of one. They’re completely over saturated in the market and their franchisees hate them for it. Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted August 24, 2023 Share Posted August 24, 2023 15 minutes ago, Dodger said: Subway feels like the Gamestop of fast food and i can't remember the last time I stepped foot in either one of them. the sad thing for me is they are the closes sandwich place near my work. But they get better the further from work I go. Next being Jimmy John’s and further still Firehouse Subs. So for me it depends on how little time I have to get something and eat. They’re not at their worst, but they are a far cry from their best. And they feel over priced compared to the quality of their contemporaries. Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted August 24, 2023 Share Posted August 24, 2023 6 hours ago, Commissar SFLUFAN said: Sandwich chain Subway to sell itself for $9.55 bln to Roark Capital - sources | Reuters WWW.REUTERS.COM Subway would sell itself to private equity Roark Capital for $9.55 billion after agreeing to attach conditions to some of the windfall the two families that own it will get, sources said, ending a long-drawn auction that saw several... The Roark Capital Empire: https://www.roarkcapital.com/portfolio What a random assortment of businesses. Quote Link to comment Share on other sites More sharing options...
Dodger Posted August 24, 2023 Share Posted August 24, 2023 3 minutes ago, Spawn_of_Apathy said: the sad thing for me is they are the closes sandwich place near my work. But they get better the further from work I go. Next being Jimmy John’s and further still Firehouse Subs. So for me it depends on how little time I have to get something and eat. They’re not at their worst, but they are a far cry from their best. And they feel over priced compared to the quality of their contemporaries. Well that's the problem. I could deal with Subway if they were cheaper but it's what $15 for a foot long chips and a coke? Fuck that when any of the other 2 you mentioned aren't much more for the same thing except way better. Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 18 minutes ago, Bacon said: The last time I stepped into a subway was pre-pandemic. And it wasn't even a real subway, but one attached to a walmart. It smelled good so I got my regular order of a bacon and meatball sub with mozz cheese - toasted. I enjoyed it as I always have. I despise Subway but their meatball sub with pepperoni and mozzarella cheese was always good imo. Quote Link to comment Share on other sites More sharing options...
Bacon Posted August 24, 2023 Share Posted August 24, 2023 6 minutes ago, best3444 said: I despise Subway but their meatball sub with pepperoni and mozzarella cheese was always good imo. It's pretty hard to fuck up meat in red sauce with cheese. Quote Link to comment Share on other sites More sharing options...
stepee Posted August 24, 2023 Share Posted August 24, 2023 I still love Subway idgaf but their prices are pretty crazy compared to the actual quality of the food. I don’t care myself because I’m willing to pay for their particular mixture but I can see why people would think it’s a shit value. 1 Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 1 minute ago, stepee said: I still love Subway idgaf but their prices are pretty crazy compared to the actual quality of the food. I don’t care myself because I’m willing to pay for their particular mixture but I can see why people would think it’s a shit value. I haven't been to subway since thier footlong was $5. How much are they now? Quote Link to comment Share on other sites More sharing options...
Bacon Posted August 24, 2023 Share Posted August 24, 2023 I've never loved subway, but I have always liked my 1 order. It's all I have ever gotten from subway. Once they gave me a "chicken parm" sub with bacon, I didn't really care for it. Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted August 24, 2023 Share Posted August 24, 2023 17 minutes ago, SaysWho? said: What a random assortment of businesses. That's a great alt name for America! Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 I used to eat their every fuckin day when I worked in the city. I enjoyed it then but I noticed the quality went downhill slowly but surely. Quote Link to comment Share on other sites More sharing options...
stepee Posted August 24, 2023 Share Posted August 24, 2023 3 minutes ago, best3444 said: I haven't been to subway since thier footlong was $5. How much are they now? Well the $5 footlong thing was a special with a rotating one a week idk what their specials are like now, but I remember a regular sub being like $7 back then for a footlong and now it’s like $10. If you add extra cheese and extra meat you get to a $15 sandwich real quick 1 Quote Link to comment Share on other sites More sharing options...
CastlevaniaNut18 Posted August 24, 2023 Share Posted August 24, 2023 They’ve revamped their menu and it’s actually better. I still won’t choose them over Firehouse or Jersey Mike’s but when I’m visiting family and the only quick options are Subway, McDonald’s, or maybe Taco Bell, it’s not like subway is the worst of them. Went in there in my last visit and it was my first Subway in a long time and it wasn’t bad. Quote Link to comment Share on other sites More sharing options...
Air_Delivery Posted August 24, 2023 Share Posted August 24, 2023 I haven't been to Subway in years. Unless they ever improve their bread I'll continue to not go there. Quote Link to comment Share on other sites More sharing options...
stepee Posted August 24, 2023 Share Posted August 24, 2023 Their sourdough bread is fine but I realize not all of them have that Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted August 24, 2023 Share Posted August 24, 2023 8 minutes ago, stepee said: Their sourdough bread is fine but I realize not all of them have that I have never seen a subway with sourdough. Quote Link to comment Share on other sites More sharing options...
stepee Posted August 24, 2023 Share Posted August 24, 2023 Just now, Spawn_of_Apathy said: I have never seen a subway with sourdough. I do forget how much sourdough is like a SF thing but they all have it here in the bay area. Quote Link to comment Share on other sites More sharing options...
Chris- Posted August 24, 2023 Share Posted August 24, 2023 Stepee absolutely has a nickname amongst the staff of his local Subway. Those cats recognize him the second he walks in. 1 2 Quote Link to comment Share on other sites More sharing options...
silentbob Posted August 24, 2023 Share Posted August 24, 2023 I get the same thing all the time. Shredded rotisserie chicken with chipotle, bbq sauce and garlic aioli for my sauces. Best subs right now are Firehouse Subs, minus the higher price tag Quote Link to comment Share on other sites More sharing options...
stepee Posted August 24, 2023 Share Posted August 24, 2023 7 minutes ago, Chris- said: Stepee absolutely has a nickname amongst the staff of his local Subway. Those cats recognize him the second he walks in. They all yell “Stepee!” ala Norm in cheers when I walk in Quote Link to comment Share on other sites More sharing options...
best3444 Posted August 24, 2023 Share Posted August 24, 2023 Now I want a meatball sub for dinner. 1 Quote Link to comment Share on other sites More sharing options...
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