Subway's Potential Sale: Eat Fresh for $10 Billion or More

Sandwich chain Subway is exploring a potential sale that could value the company at more than $10 billion and has retained advisers.
"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," Wall Street Journal reported.
The process, which is in the early stages, is expected to attract potential corporate buyers and private-equity firms. Still, it is possible there won't be a sale or other deal.
The sandwich chain has been owned by its two founding families for over five decades.
Subway, one of the world's largest quick-service restaurant brands, has over 37,000 restaurants in over 100 countries.
Subway generated $9.4 billion in sales in 2021, up 13% Y/Y as the chain recovered from the pandemic and operational improvements boosted sales, according to industry research firm Technomic.
The chain's global sales peaked at $18 billion in 2012, declining for years after, Technomic said.
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