Private equity firm Roark nears deal to buy Subway for about $9.6 billion – WSJ

(Reuters) -Roark Capital, which owns restaurants Arby’s and Buffalo Wild Wings, is nearing a deal to buy sandwich chain Subway for about $9.6 billion, the Wall Street Journal reported on Monday,

A deal could be finalized this week, the report said, citing people familiar with the matter.

Reuters reported earlier this month that private equity firms TDR Capital and Sycamore Partners were in talks to team up in their pursuit to acquire Subway, which in February said it was exploring a possible sale of its business.

Sources told Reuters then that Subway expects to fetch well over $9 billion in a deal, and remains uncertain whether TDR and Sycamore can meet its price expectations.

The chain, founded in 1965 by 17-year-old Fred DeLuca and family friend Peter Buck, has been owned by the founding families since its first outlet opened as “Pete’s Super Submarines” in Bridgeport, Connecticut.

Subway and Roark Capital did not immediately respond to Reuters requests for comment.