Subway, the largest restaurant chain in the U.S., is exploring a sale.
The process is in the “early stages,” according to The Wall Street Journal, which reports Subway (Millford, Conn.) has retained advisers to gauge interest in a deal that could value the sandwich maker at $10 billion.
“As a privately held company, we don’t comment on ownership structure and business plans,” Subway told the outlet. “We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable.”
The article notes it’s still possible there won’t be a sale or other deal.
Subway, which operates about 21,000 U.S. locations, has been owned by its two founding families for more than five decades.
Read more at The Wall Street Journal.