The almost 60-year-old sandwich giant confirmed yesterday that it is exploring a potential sale of the company.
The company has also said that J.P. Morgan is advising the company and will conduct the sale exploration process.
In a statement, Subway noted: “There is no indication of timing or assurance that a sale will occur”. However, if a sale were to occur, it would be one of the biggest deals in the fast food industry since Inspire Brands acquired Dunkin’ Brands in October 2020. In January, the Wall Street Journal reported that Subway was seeking a deal that could value the company at more than $10bn.
One of the world’s largest quick service restaurant brands, Subway is based in Milford, Connecticut and has more than 37,000 restaurants (with about 21,000 located in the US) across more than 100 countries. The restaurants are owned and operated by Subway franchisees.
