Sai Baiwei, the once popular foreign fast food leader in China, has sold out.

Recently, Subway, the largest sandwich company in the United States, announced this news on its official website. The exact amount was not disclosed, and the buyer was Roark Capital, a private equity firm.

Source: Subway official website

According to media reports, the final transaction price of this transaction is approximately 9.55 billion US dollars (approximately 70 billion RMB).

Crazy closure of 8000 stores

At its peak, Subway had approximately 45000 stores in 112 countries, far surpassing McDonald's (37000) and KFC (15000). It is not only a giant in the US fast food industry, but also the world's largest fast food brand with the largest number of stores.

Subway has achieved such brilliant results mainly thanks to the contribution of its founder Fred DeLuca.

In 1965, at the age of 17, Fred DeLuca borrowed $1000 from friends to start a roadside stall and sell his specialty sandwiches in order to save up for college expenses. He didn't expect this simple idea and created the legendary journey of Subway.

Amidst the surging fast food industry in the United States, where McDonald's and KFC dominate, Fred DeLuca realizes that Subway needs to expand its scale in order to have a big presence. The best way is to "learn" from McDonald's franchise model.

In the fierce competition for fast food, such a small franchise fee can easily turn Subway upside down. Fred DeLuca cleverly came up with a way to make up for it. While receiving the franchise fee, he also takes about 8% of the annual sales from franchisees.

After joining and opening for a year, Subway's stores suddenly surged to over 200. By 1990, the number of Subway's stores had reached 5000, transforming Fred DeLuca from a novice entrepreneur to an American fast food giant.

But after rapid expansion, Subway faced a large wave of closures, and after decades of development, this fast food giant was inevitably hit by large-scale closures. As of November 2022, the number of Subway stores worldwide has decreased to 37000, with nearly 8000 fewer stores compared to its peak.

Subway has a new logo and wants to be reborn

In August 2016, Subway announced a change to its 15 year old logo and replaced it with a minimalist one. The head "S" and tail "Y" of the new logo logo will continue to retain the classic arrow shape. In terms of color, we still use the green and yellow colors of the classic Subway logo.

Subway stated that the launch of this new logo is actually a part of the brand's new upgrade, and will now listen more to consumers' wishes while adding more high-end menu options. This logo made its first appearance in an advertisement at the opening ceremony of the Rio Olympics, when Subway said it would cover all stores worldwide by early 2017, but this wish has not yet been realized.

If the replacement of the new logo is to adapt to business development and the aesthetic needs of the times, then