Sandwich company Subway confirmed on Tuesday that it is exploring a sale.
The
company has hired JPMorgan as an advisor. Last month, The Wall Street
Journal reported that the company was exploring a deal that could value
the chain restaurant at more than $10B.
- Subway has over 37,000 restaurant locations in more than 100 countries.
- The
company said it plans to continue its multi-year transformation
strategy, which includes innovating its menu, modernizing its
restaurants, and improving the overall customer experience.
- Earlier
this month, Subway reported that its global same-store sales rose 9.2%
in 2022; North American same-store sales rose 7.8%.
- The company
said it has had eight consecutive quarters of sales growth, and its
digital sales have more than tripled since 2019.
- Subway is a privately held company and is not required to report its financial results.
