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Subway sandwich chain completes $9.6 billion sale to Roark Capital

Subway founders sold their company for $9.6 billion.

Subway founders sold their company for $9.6 billion. Fast food restaurant chain Subway has announced the sale of its business to investment firm Roark Capital. It is known that the transaction amount during the auction amounted to $ 9.6 billion. Roark Capital will pay $9 billion of that amount upfront, with the remaining amount contingent on achieving certain financial milestones.

Subway, founded in 1965 as a small sandwich store, has since grown into one of the largest fast-food chains in the United States. Throughout its history, the company has been owned by the families of its founders, Peter Buck and Fred DeLuca. The WSJ reported on the possible sale of the company earlier this year. At the time, Subway was valued at more than $10 billion.

The Subway chain currently has about 45,000 locations worldwide. According to CEO John Chidsey, the deal with Roark Capital will result in another 23,000 locations being added to the chain in the coming years, primarily through franchising. It's important to note that all of Subway's current management team, including the CEO, will continue to work for the company after the deal is finalized.

Roark Capital is one of the most prominent players in the U.S. food industry. In 2020, Roark-backed restaurant company Inspire Brands acquired Dunkin' Brands Group for $8.8 billion. Inspire Brands also owns Arby's, Buffalo Wild Wings, Sonic Drive-In and Jimmy John's, making it one of the largest restaurant groups in the U.S. with more than 32,000 locations. The total value of Roark Capital's investment portfolio is estimated at $37 billion.

This article was originally published on Malls.com

[mallscom]

Dior unveils new Co-Ed store, elevating luxury on London's Sloane street

French luxury retailer Dior is preparing to open its new store in London. The shopping space will appear on Sloane Street. The official opening of the Co-Ed store is scheduled for July 5.

Dior has had strong ties with London since the first store opened on Conduit Street in 1954. The new mono store will be in a prestigious location, in the Royal Borough of Kensington and Chelsea. The store will feature men's and women's clothing and jewelry collections. The bright exterior of the new Co-Ed store is decorated in the corporate style of Dior with the use of flags with the fashion house logo.

Three-story store interiors are distinguished by a light palette using cream, tan, and blue colors. Maria Grazia Chiuri's shoes and accessories occupy the first floor. On the second floor women women clothes seasonal collections are presented. And on the lower shopping level are Kim Jones men's lines.

Dior Co-Ed is a concept introduced by the luxury fashion brand Dior, which represents a modern and inclusive approach to fashion. The term "Co-Ed" signifies the combination of both genders, reflecting the brand's commitment to blurring traditional boundaries.

Dior Co-Ed offers a range of clothing, accessories, and footwear. The collection features a harmonious blend of masculine and feminine elements, creating a unique and versatile aesthetic. By embracing the Co-Ed concept, Dior aims to challenge societal norms and redefine notions of style. The brand encourages individuals to express themselves freely through fashion, promoting a sense of individuality and self-confidence.

This article was originally published on Malls.com