Axios Pro Rata: Roark's rules
Plus, the fall of Rite-Aid. | Wednesday, August 30, 2023 Open in app View in browser Axios Pro Rata By Dan Primack · Aug 30, 2023 Top of the Morning Illustration: Gabriella Turrisi/Axios What is Roark Capital , and how did it come to dominate the global restaurant industry? That was the gist of a conversation I had on CNBC last week , after the Atlanta-based private equity firm agreed to buy Subway for $9.6 billion. It's also the subject of a helpful new piece from my Axios colleague Richard Collings, who notes that Roark was named for the protagonist in Ayn Rand's "The Fountainhead." But I had a wonkier question, more appropriate for Pro Rata readers: How does Roark have such strong distributions and returns, given that it avoids exits like a foodie avoids ... well, Subway. ...