Sandwich chain Subway explores sale of business

After nearly 60 years of family control, the multinational sandwich giant Subway has announced that it is considering a possible sale of the company.

The company has been expanding quickly for years, but is currently dealing with challenging rising prices and greater competition.

According to the Wall Street Journal, which broke the story, a sale of the company might fetch more than $10 billion ($8.2 billion) in value.

JP Morgan, a leading name in investment banking, is advising Subway on the potential sale.

When asked how long the procedure might take, Subway stated that it does not intend to provide any more information until it is finished.

The business reported record sales for the second year in a row earlier this month. According to Subway, same-store sales increased 9.2% in 2018 over 2021.

The company continued by saying that it would "continue to execute against its multi year transformation strategy,

which includes adding new menu items and updating its venues. In Bridgeport, Connecticut, Subway was first established in 1965 as Pete's Super

Submarines by 17-year-old Fred DeLuca and a family friend named Peter Buck.

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