Subway , Is for Sale.
CNN reports that the sandwich company confirmed it is "exploring a possible sale" on Feb.
14.
Subway hired J.P.
Morgan to help with the process.
Subway hired J.P.
Morgan to help with the process.
However, the 58-year-old company said there is "no indication of timing or assurance that a sale will occur.".
Subway said it won't make any more public comments about selling the business until the process is complete.
.
According to 'The Wall Street Journal,' the chain could sell for over $10 billion.
CNN reports that Subway's new menu, renovations and international growth have bolstered the company in recent years.
CNN reports that Subway's new menu, renovations and international growth have bolstered the company in recent years.
Sales at North American stores rose 7.8% last year.
The company has also seen twice as much digital growth via its app or third-party services compared to 2021.
One of Subway's newest changes involves slicing meat in stores instead of receiving pre-sliced meat.
We were one of the few, if only, sub shop that didn’t slice in restaurant.
, John Chidsey, Subway CEO, via CNN.
Not only does it give the guest a better perception of seeing the nice, fluffy meat, but we save a lot of money since we were paying a lot of money to have it sliced upstream, John Chidsey, Subway CEO, via CNN
