Subway confirms possible sale

J.P. Morgan will be the adviser for the sale.

Sandwich chain Subway has confirmed that its shareholders are exploring a possible sale of the company. 

Subway however said there is no indication of timing or assurance that a sale will occur. J.P. Morgan is advising the company and will be the one to conduct the sale exploration process. The sandwich brand said they do not intend to further make public comments 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 recently announced another record-setting year, ending 2022 exceeding global sales projections and achieving eight consecutive quarters of positive same-store sales growth,” Subway said.

Subway is a global sandwich brand that operates in 100 countries with nearly 37,000 restaurants.