One of the world's largest restaurant brands could soon be on the market.
According to reports, Subway is exploring the sale of its business. The sale could value the sandwich chain at more than $10 billion, the Wall Street Journal reported.
The process is said to be in its early stages, and the company hasn't made any official decisions yet about selling.
A Subway spokesperson also wouldn't confirm reports about the possible sale.
"As a privately held company, we don't comment on ownership structure and business plans," the spokesperson said in an email to Bloomberg. "We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable."
The sale is expected to attract potential corporate buyers and private-equity firms, according to the WSJ.
If a sale happens, it would be one of the biggest deals in the fast food industry since Inspire Brands bought Dunkin' for $11.3 billion in October 2020, CNN reported.
Subway started as a single business in 1965 and has grown to one of world's largest quick service restaurant brands with more than 37,000 restaurants in over 100 countries. Restaurants are owned and operated by Subway franchisees – a network that includes more than 20,000 entrepreneurs and small business owners.
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