Subway exploring potential sale

Subway has informed stakeholders of a potential $10bn (£8.2bn) sale, according to The Wall Street Journal, after 58 years of family ownership.

Although there are no confirmed plans, Subway has appointed JP Morgan to advise and explore options. As a privately owned company, Subway isn’t required to disclose any financials and the chain has confirmed that it “does not intend to make any further public comment regarding the process until it has been completed”.

Earlier this year, Subway reported record sales for the second year running, with a 9.2% increase in sales in 2022, compared to 2021, and a 29.1% increase compared to 2020. 

The firm has been growing rapidly for years but is now facing soaring costs and increased competition, although it has not confirmed how much inflation has affected price increases.