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☆ Subway has sold itself to a private equity firm
  + stars: | 2023-08-24 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Subway has sold itself to private equity firm Roark Capital, ending a six-month long search for a buyer. “This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” Subway CEO John Chidsey said in a statement. However, the Wall Street Journal reported the purchase price was “around $9.6 billion,” which would be slightly below the chain’s $10 billion asking price. Despite the sales turnaround, the number of US Subway stores declined to 20,576 last year according to Technomic. Another issue for Roark: Yearly sales at Subway US restaurants are still much lower compared to its sandwich-making rivals.
Persons: Roark Capital, ” Roark, Auntie Anne’s, Carvel, John Chidsey, Roark, Roark’s, Dunkin ’, Jimmy John’s, “ Roark, ”, Neil Saunders, GlobalData, ” Saunders, Trevor Haynes, He’s, Douglas Fry Organizations: New, New York CNN — Subway, Roark, Subway, Buffalo Wild Wings, Sonic, ” Subway, “, Wall Street Journal, ”, Inspire Brands, Inspire, US Subway, QSR Magazine, Jersey, Subway’s North Locations: New York, North America, Subway, Subway’s North America, Canada
☆ Subway is offering free sandwiches for life if you change your name
  + stars: | 2023-07-29 | by ( Eva Rothenberg | ) edition.cnn.com   time to read: +1 min
CNN —If you love sandwiches and aren’t all that keen on your name, Subway has an offer for you. This week, the fast food chain announced that one lucky customer who legally changes their first name to “Subway” will be rewarded with free “Deli Hero” subs for life. As the sandwich chain terms it, Subway is putting out a call for “superfans.”“In 2022, one superfan camped out for two days to get a footlong tattoo of the Subway Series logo in exchange for free Subway for life,” Subway said in announcing the contest. Earlier this month, Subway debuted a new sandwich featuring cold cuts that are sliced on-site at restaurants rather than pre-portioned. Since debuting the new sandwich, Subway says it has sold more than two million Deli Heroes.
Persons: ” “, superfan Organizations: CNN, ”, Subway Locations: SubwayNameChange.com
☆ Subway plans to open nearly 4,000 stores in China in one of its biggest deals ever
  + stars: | 2023-06-07 | by ( Michelle Toh | ) edition.cnn.com   time to read: +3 min
Hong Kong CNN —Subway is planning to add thousands of new sandwich shops in China, increasing its footprint in the country by more than seven times. The world’s biggest sandwich chain announced Tuesday that it would open almost 4,000 new stores across mainland China over the next 20 years. The deal “is the largest master franchise agreement in Subway history and one of the largest across the entire [fast-food restaurant] industry,” Subway said in a statement. The large-scale expansion will be made possible by a deal Subway has inked with a Chinese company, Shanghai Fu-Rui-Shi Corporate Development (FRS). A 5-meter-long Subway sandwich seen in Shanghai on May 30.
Persons: Shanghai Fu, John Chidsey, Chase Organizations: Hong Kong CNN —, ”, Corporate, Subway, Publishing, ” Subway Global, JPMorgan Locations: Hong Kong, China, Shanghai, United States, Asia Pacific
☆ Subway to sell sandwiches in smart vending machines
  + stars: | 2022-11-14 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN Business —Your next Subway order could come from a vending machine. Subway reported strong third-quarter sales Monday and publicly unveiled its first Grab and Go “smart fridge” filled with premade sandwiches, snacks and drinks. Subway is rolling out Grab & Go fridges that have pre-mad sandwiches. In 2020 the company began selling premade sandwiches in regular fridges at retail locations like casinos, gas stations and airports. Subway attributed its recent success to its new “Subway Series” menu — which was streamlined to help speed up service — and an increase in digital orders.
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