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The Associated Press

Sandwich chain Subway will be sold to fast-food investor Roark Capital

Subway Roark Roark Capital Arby Cinnabon Jimmy John United States
The Subway logo is seen on takeout boxes at a restaurant in Londonderry, N.H. The sandwich chain says it will be sold to the private equity firm Roark Capital. Terms of the deal weren't disclosed. (Charles Krupa/AP)

Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management that could help the sandwich chain expand and improve its stores.

Terms of the deal weren't disclosed. Earlier this week, The Wall Street Journal reported that Atlanta-based Roark was offering around $9.6 billion for Subway, which is privately owned.

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