MILFORD, Conn. (WTNH) – Milford-based company Subway announced Thursday that it has agreed to sell to Roark Capital.

According to a press release, this sale is a major milestone in the company’s multi-year transitional journey. It also comes on the heels of a 10th consecutive quarter of positive same-store sales.

The sandwich giant announced back in February that it was considering the option to sell the company and that JPMorgan Chase & Co. was advising the company through the process.

“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” said John Chidsey, CEO of Subway. “Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests, and our employees.”

Roark Capital is a private equity firm that focuses on investments in consumer and business service companies. Some of the most well-known business the firm owns includes Dunkin’, Cheesecake Factory, and Moe’s Southwest Grill.

To learn more about the sale, click here.

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