Fast-food chain Subway is considering a sale that would value the company at more than $10 billion, a source familiar with the matter said Wednesday.
The sale process is still in its infancy and is yet to be completed, the source said, according to Bloomberg UK, asking not to be identified as this information is not public.
“As a private company, we do not comment on the structure and business plans,” Subway told UK media in an email. We remain focused on advancing the brand with our transformational journey to help our franchisees thrive and be profitable.”
Based in Milford, Connecticut, the company is one of the world’s largest fast food chains with approximately 37,000 franchises in more than 100 countries. The first branch was opened in 1965.