Sandwich Chain Subway Mulls Sale Of World's Biggest Food Chain

Sandwich chain Subway is exploring a sale of its business, a source told Reuters, Shivani Tanna and Abigail Summerville reported.

Photo Insert: The sale could value the sandwich chain at more than $10 billion.

The sale could value the sandwich chain at more than $10 billion, The Wall Street Journal first reported.

The process, which is at an early stage, is expected to attract potential corporate buyers and private-equity firms, the report said, adding that it is possible there won't be a sale or other deal.

"As a privately held company, we don't comment on ownership structure and business plans," a company spokesperson told Reuters in an emailed statement. Subway, one of the world's largest quick-service restaurant brands, has more than 37,000 restaurants in over 100 countries.

The Milford, Connecticutt-based company, known for its foot-long sandwiches, has been owned by its two founding families for more than five decades. In 2021, media reports said Subway was tidying itself up for a sale, but the restaurant chain denied it.

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