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According to sources from the Wall Street Journal and Reuters, QSR chain Subway is thinking about selling the brand.
Private equity firms and possible corporate bidders are expected to become involved in the process, which is still in its early stages. The American fast food restaurant is reportedly worth $10 billion.
“As a privately held company, we don’t comment on ownership structure and business plans,” a Subway spokesperson told Reuters in an emailed query.
Subway has been owned by the two founding generations of the company since it opened in Milford, Connecticut, more than 50 years ago. It has more than 37,000 locations worldwide.
As part of a nationwide hiring effort, sandwich operator Subway earlier in May 2022 announced plans to hire more than 50,000 restaurant team members in June.
It stated in the release that it has several job openings throughout its more than 20,000 outlets countrywide.