Sandwich chain Subway set for $9.5bn sale

Chain, which has about 37,000 restaurants in more than 100 countries, to be bought by US investment fund

Subway has been owned by the founding families since its first outlet opened in 1965.

International sandwich chain Subway is set to be snapped up for more than $9.5bn (€8.8bn) by US investment fund Roark Capital after a lengthy sales process. 

Subway, which has about 37,000 restaurants in more than 100 countries, was founded in 1965 by the late Fred DeLuca and family friend Peter Buck.