The Jimmy John’s sandwich brand said it has agreed to sell a majority stake to a Roark Capital affiliate.
Details of the deal were not disclosed.
Founder Jimmy John Liautaud will stay on as chairman of the board and the brand’s biggest individual shareholder, and no changes to leadership will result from the sale, Jimmy John's said. Inherent in the deal, investment firm Weston Presidio will no longer have a stake in the fast casual.
According to a news release, Jimmy John’s marks the 56th franchise brand acquired by Roark Capital, which is also the parent company of Corner Bakery Cafe, Il Fornaio, Arby’s and Focus Brands.