Looks like the long-standing rumors could finally be true.
Subway, the largest restaurant chain in terms of U.S. locations, could be looking to sell, according to a report by. The report cites a source that is familiar with the deal. The source reportedly revealed that the chain, famous for its"Eat Fresh" tagline, has retained advisers to explore a tremendous sale valued at potentially $10 billion.
When—or even if—this could happen is completely up in the air, though the source says it is in its early stages. Subway would neither confirm nor deny the rumors."As a privately held company, we don't comment on ownership structure and business plans," the company told."We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable."Subway, which has over 20,000 U.S. locations, achieved $9.
. It was already facing a downturn when the pandemic saw the chain report a five-year low of $8.2 billion.At the leadership level, the company has seen a huge transformation over the last decade as it changed hands from its founding families. When co-founder Fred Deluca stepped down due to a leukemia diagnosis in 2013 he handed the company to his sister,
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