Subway to explore possible sale
Subway®, one of the world’s largest restaurant brands, recently announced that its shareholders are exploring a possible sale of the company.
There is no indication of timing or assurance that a sale will occur. J.P. Morgan is advising the company and will conduct the sale exploration process.
The company does not intend to make any further public comment regarding the process until it has been completed.
“The management team remains committed to the future and will continue to execute against its multi-year transformation journey, which includes a focus on menu innovation, modernization of restaurants and improvements to its overall guest experience,” the company said.
Subway recently announced another record-setting year, ending 2022 exceeding global sales projections and achieving eight consecutive quarters of positive same-store sales growth.