In a deal that will significantly expand Subway’s global presence, S&C is advising the quick-service restaurant brand in its agreement to be acquired by affiliates of private equity firm Roark Capital, which specializes in restaurant and franchise business models.
Subway recently announced its tenth consecutive quarter of positive sales and the pending acquisition will see the company continue to focus on sales growth, menu innovation, modernization of restaurants, overall guest experience improvements and international expansion.
The S&C team advising Subway includes Frank Aquila, Melissa Sawyer and Lisa Morales.
In the first half of 2023, S&C led all law firm advisers in announced global and U.S. deals, according to Bloomberg and Refinitiv. The Firm advised on announced deals totaling $210 billion worldwide, representing a 15.8 percent market share. Over the past decade, S&C has advised on major consumer- and retail-focused deals that have set precedents for the industry, including representing:
- Tiffany & Co. in its $16 billion acquisition by LVMH Moët Hennessy Louis Vuitton.
- Amazon.com in its $13.7 billion acquisition of Whole Foods Market.
- Anheuser-Busch InBev in its $123 billion merger with SABMiller.
- Kraft Foods Group in its $55 billion merger with H.J. Heinz Company to create The Kraft Heinz Company.