Sullivan & Cromwell and Paul Weiss advised on acquisition of Subway by Roark Capital
Sullivan & Cromwell and Paul Weiss advised on acquisition of Subway by Roark Capital
The deal values the sandwich-maker around $9.55bn
Sullivan & Cromwell and Paul Weiss Rifkind Wharton & Garrison are advising on private equity firm Roark Capital’s acquisition of US fast food chain Subway, owned by the DeLuca and Buck families.
While Sullivan & Cromwell is advising Subway, Paul Weiss is guiding Roark Capital, a US restaurant franchise specialist, which also owns brands including The Cheesecake Factory, Arbys, Baskin-Robbins, and Dunkin Donuts.
The DeLuca and Buck families hope to achieve a valuation north of $10bn.
Sullivan & Cromwell said the deal would “significantly expand Subway’s global presence” and allow it to focus on sales growth, menu innovation and broader restaurant improvements.
The Sullivan & Cromwell M&A team advising on the deal comprised global head Melissa Sawyer, partner Frank Aquila and associate Lisa Morales.
The Paul Weiss team was led by New York-based corporate partners Jeffrey Marell and Sarah Stasny. They were supported by corporate partners Monica Thurmond, Suhan Shim, Charles Pesant, Victoria Forrester, Robert Zochowski, Marco Masotti, Aaron Schlaphoff, and counsels Stephen Koo, David Sobel, Mikhel Schecter, Hilary Christian, Andrew Day, and Jennifer Songer.
Tax advice was provided by partners Matthew Jordan and Scott Sontag, while litigation matters were handled by partners Jacqueline Rubin, Andrew Finch, Roberto Finzi, Paul Brachman, and counsel Jared Nagley.
Antitrust advice was provided by counsel Marta Kelly, with executive compensation partner Lawrence Witdorchic, intellectual property partner Claudine Meredith, and counsel Elana Bensoul.
