PE Deals

Area 15 Ventures buys sandwich brand Port of Subs

Port of Subs was founded in 1972.

-
  • In conjunction with the acquisition, Port of Subs has named Adam Contos, RE/MAX Holdings’ most recent CEO, as CEO of Port of Subs
  • Also, Healey Mendicino, former executive vice president of Port of Sub, will serve as president
  • Based in Colorado, Area 15 Ventures is a private equity business that invests in emerging franchisors

Area 15 Ventures has acquired Reno, Nevada-based sandwich brand Port of Subs. No financial terms were disclosed.

Port of Subs was founded in 1972.

“This is definitely an exciting time for Port of Subs, and I couldn’t feel more secure putting the brand in the hands of a group like Area 15 Ventures,” said John Larsen, the now former CEO of Port of Subs, in a statement. “Over the years, our franchisees have become truly celebrated in each community we serve because of our high-quality and customizable menu, and with that, we’ve been able to capture an amazing following.”

Coinciding with the acquisition, Port of Subs has named Adam Contos, RE/MAX Holdings’ most recent CEO, as CEO of Port of Subs. Contos has been with Area 15 Ventures since early 2022.Additionally, Healey Mendicino, former executive vice president of Port of Sub, will serve as president.

Based in Colorado, Area 15 Ventures is a private equity business that invests in emerging franchisors.