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Subway Sandwich Chain Explores Sale; Value Could Reach $10B
Sandwich chain Subway, the largest restaurant chain by U.S. locations, has retained advisers to explore a sale of the closely held company, the Wall Street Journal reported Thursday. A sale could value Subway at more than $10 billion
The process, which is in the early stages, is expected to attract potential corporate buyers and private-equity firms. However, it’s possible that there won’t be a sale or other deal.
“As a privately held company, we don’t comment on ownership structure and business plans,” Subway said. “We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable.”
Milford, CT-based Subway, known for its foot-long sandwiches and quick-service restaurants, has been owned by its two founding families since the 1960s. Its 21,000 U.S. locations did $9.4 billion in sales in 2021, up 13% from the year prior, according to industry research firm Technomic.
- ◦Sale/Acquisition
