Subway sandwich chain gadgets might quickly be out there on one other firm’s menu.
The corporate has reportedly retained advisers to discover a sale of the carefully held sandwich store, in line with the Wall Road Journal.
Subway is anticipated to draw potential company patrons and private-equity corporations, and might be valued at greater than $10 billion, in line with individuals acquainted with the scenario.
Issues are within the very early phases and it’s potential there received’t be a sale or different deal.
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“As a privately held firm, we don’t touch upon possession construction and enterprise plans,” Subway stated. “We proceed to be targeted on transferring the model ahead with our transformational journey to assist our franchisees achieve success and worthwhile.”
Subway has been owned by its two founding households for greater than 5 a long time.
Subway’s roughly 21,000 U.S. places did $9.4 billion in gross sales in 2021, up 13% from the 12 months prior because the chain recovered from the pandemic.
The corporate had round 37,000 shops world wide as of 2021 and was the largest restaurant chain by U.S. places.
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The corporate had been run by late co-founder Fred DeLuca for a lot of a long time, earlier than he was identified with leukemia, and his sister Suzanne Greco took the reins of the corporate till she retired in 2018.
Peter Buck, who lent DeLuca $1,000 to open a sandwich store in Bridgeport, Conn., in 1965 and helped co-found the chain, died in 2021.
Chief Govt John Chidsey has labored to show across the chain since taking the helm in November 2019. He has closed places, restructured firm operations and targeted on Subway’s menu and meals high quality.
The sandwich chain stated in October that its same-store gross sales rose 8.4% in its third quarter in contrast with the identical interval in 2021.