n a notable business move, Roark Capital is set to acquire Subway in a deal valued at $9.6 billion. Founded in 1965, Subway has established itself as one of the world's largest restaurant chains, boasting an impressive presence with over 37,000 outlets spanning across 100 countries, and it remains under the ownership of its founding families.

However, the company has been facing challenges in the US market. Competing against fast-growing rivals like Panera and Firehouse Subs, Subway's market share has been steadily declining. These competitors offer diverse menus and modern store concepts, which have contributed to Subway's gradual decrease in market share within the US. Currently, Subway holds around 23 percent of the estimated $43 billion US sandwich and deli market, a drop from its 34 percent share in 2017, according to data from Technomic, a consulting company.

In response to these challenges, Subway has been actively working to regain its footing. In 2021, the company introduced a refreshed menu, and in the previous year, it launched a line of chef-developed sandwiches. This move was in recognition of shifting customer preferences away from Subway's traditional model of customizing sandwiches.

Despite these efforts, Subway announced its intention to explore a sale in February, setting the stage for Roark Capital's substantial acquisition. This strategic move comes at a critical juncture for Subway as it seeks to navigate its market challenges and revitalize its position in the ever-evolving fast food industry.