Subway Is Considering A Sale That Could Net More Than $10 Billion - WSJ

The Wall Street Journal reported on Wednesday, citing sources familiar with the matter, that Subway has recruited consultants to investigate a sale that could value the sandwich firm at more than $10 billion.

According to a report, the process, which is in its infancy, is expected to draw possible corporate bidders and private-equity firms, although a sale or other transaction may not occur.

A corporate official said to Reuters, "As a privately held company, we cannot comment on our ownership structure or future business objectives."

Over 37,000 locations in over 100 countries make Subway one of the largest quick-service restaurant businesses in the world. The Milford, Connecticut-based firm, renowned for its foot-long sandwiches and quick-service restaurants, has been in the ownership of its two founding families for more than fifty years.

In 2021, media outlets said that Subway was preparing for a sale, but the restaurant business denied it.