Subway sandwich chain items may soon be available on another company’s menu.
The company has reportedly retained advisors to explore the sale of the textured sandwich shop more closely, according to the Wall Street Journal.
Subway is expected to attract potential corporate and private equity buyers, and may be valued at value more than 10 billion dollars, According to people familiar with the situation.
Things are still in their early stages and there may not be another sale or deal.
“As a private company, we do not comment on ownership structure and business plans,” Subway said. “We remain focused on driving the brand forward through our transformational journey to help our franchisees be successful and profitable.”
Subway has been owned by two founding families for more than five decades.
Subway has approximately 21,000 locations in the United States It generated $9.4 billion in sales in 2021, up 13% from the previous year as the chain recovered from the pandemic.
The company had about 37,000 stores worldwide as of 2021 and was the largest restaurant chain in the United States.
The late co-founder Fred DeLuca ran the company for many decades, before he was diagnosed with leukemia, and his sister Suzanne Greco took over the reins until she retired in 2018.
Peter Buck, who lent DeLuca $1,000 to open a sandwich shop in Bridgeport, Conn, has died. in 1965 and helped found the series, in 2021.
CEO John Chedsey He’s worked to turn the chain around since taking the helm in November 2019. He’s closed locations, restructured the company’s operations, and focused on Subway’s menu and food quality.
The sandwich chain said in October that same-store sales rose 8.4% in the third quarter compared to the same period in 2021.
“Beer buff. Devoted pop culture scholar. Coffee ninja. Evil zombie fan. Organizer.”