Subway Looking for a Possible Sale; Hires J.P Morgan

Subway®, one of the world's largest restaurant brands yesterday 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.

The brand has hired J.P. Morgan in 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,” shared a release on its official website.

"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," it added.

The company recently announced another record-setting year, ending 2022 exceeding global sales projections and achieving eight consecutive quarters of positive same-store sales growth.

Known for its freshly made-to-order sandwiches, wraps, salads and bowls to millions of guests, it is present across more than 100 countries in nearly 37,000 restaurants every day. Subway restaurants are owned and operated by Subway franchisees – a network that includes thousands of dedicated entrepreneurs and small business owners – who are committed to delivering the best guest experience possible in their local communities.