Aronson Faces Fast-Food Test With $9.7B Subway Takeover After Quiet Rise To Franchise King

After Roark Capital's $9.7 billion winning bid, Neal Aronson faces his biggest fast-food challenge yet with Subway.
Aronson has maintained a low profile while becoming private equity's franchise king, doubling Roark's assets to over $37 billion in 3 years.
Subway has hit 10 consecutive quarters of same-store sales growth, but still lags pre-pandemic levels as competitors like Jersey Mike's grow.
Aronson's buy-and-hold strategy has put him at odds with other buyout peers more focused on quicker exits.
Aronson indulges in private jets and lavish homes despite becoming wealthy through drive-thrus like Arby's, Jimmy John's and now Subway.

forbes.com

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