Substantial news broke on Wednesday as Reuters reported that renowned sandwich chain Subway is considering selling its business. Market analysts estimate the company might be worth a whopping $10 billion or more, according to The Wall Street Journal’s first report.
At this moment, the process is still in its infancy; yet it has already gained attention from potential corporate buyers and private-equity firms. Despite that, it remains a possibility that no sale or alternative agreement will ensue.
A representative of the company declared to Reuters in an emailed statement-
“As a privately held company, we don’t comment on ownership structure and business plans.”
As one of the leading fast-food chains in the world, Subway boasts over 37,000 restaurants located in more than 100 countries. The Milford, Conn.-based company has been renowned for its iconic footlong sandwiches since it was founded by two families half a century ago and remains solely owned to this day.
Recently there have been speculations that Subway is looking into undergoing a sale; however, these reports were denied by the restaurant chain itself earlier this year.
This latest news, however, confirms that Subway is indeed analyzing a potential sale and values itself at over $10 billion.
It appears that time will tell if the iconic sandwich chain will remain in its current state or become part of a larger corporate entity. We’ll keep you posted on further developments as this story develops.
Shivendra Tiwari is an Engineer and an MBA in Marketing. He is the Content head at Marketing91 and a thorough Online Marketing enthusiast. Shivendra loves to follow different brands and study their Business and Marketing tactics.