10 billion sale Subway considers offer

Subway wants to sell itself

The fast food brand Subway has officially announced that it is looking into a possible sale.

The news comes just over a month after a source told British magazine Bloomberg that the company was considering an offer worth more than $10 billion.

“There is no indication of the timing or certainty that a sale will take place,” the company said on its website Tuesday, adding that it has hired JP Morgan to handle the sale process.

“The management team remains committed to the future and will continue on their multi-year transformational journey, which includes a focus on menu innovation, restaurant modernization and improving the overall experience for its customers,” Subway added, referring to its sales records for 2022.