Sandwich restaurant chain Subway has sold itself to private equity firm Roark Capital, the company announced Thursday.
The sale, which was reportedly made at around $9.6 billion, marks the end of Subway’s almost six-decade run as a family-owned business.
Roark Capital notably holds stakes in numerous other restaurant chains, including Arby’s, Sonic and Buffalo Wild Wings.
Subway is currently the largest restaurant chain in the world, with more than 42,998 worldwide across 112 countries.
