Biggest restaurant chain in US explores sale

Sandwich chain Subway has retained advisers to explore a sale of the closely held company, according to people familiar with the situation.

Report informs via The Wall Street Journal that tThe process, which is in the early stages, is expected to attract potential corporate buyers and private-equity firms, and could value Subway at more than $10 billion, the people said. Still, it is possible there won’t be a sale or other deal.

Milford, Conn.-based Subway, known for its foot-long sandwiches and quick-service restaurants, has been owned by its two founding families for more than five decades.

The company had around 37,000 stores around the world as of 2021 and was the biggest restaurant chain by US locations.