The sandwich business Subway is considering a sale that may be worth more than $10 billion, according to a Wall Street Journal article.
According to reports, the sandwich company is in the early stages of courting corporate or private equity firms.
Details about Subway is attempting to sell itself in a deal that might be worth more than $10 billion
The alleged choice was made a little over a year after Peter Buck, the company’s last living founder, passed away in 2021. The two founding families of Subway are its only owners.
A spokeswoman for Subway stated to Insider: “We don’t comment on ownership structure or business strategies because we are a privately held company. We are still committed to advancing the brand through our transformational path in order to support the success and profitability of our franchisees.”
One of the biggest franchises in the world, Subway, is currently undergoing renovations under CEO John Chidsey.
Since the New York Times reported that it had found no tuna DNA in Subway’s tuna sandwiches, the company has had to deal with declining sales, location closings, and allegations that its tuna isn’t actually tuna.
According to a news release, the corporation began an extensive menu revamp in 2021 with “improvements to practically every fundamental menu item.”