Subway, the privately held fast-food sandwich chain, is being put up for sale, according to the Wall Street Journal.
A sale could command around $10 billion for its owners, the families of the two men who founded it with a single restaurant in Connecticut in 1965.
Subway is one of the largest franchised fast-food chains in the world, with around 37,000 stores globally as of 2021, roughly the same as McDonald’s. Sales peaked at around $18 billion annually in 2012, and have since been in decline as new sandwich chains have cut into its market share, according to the Journal.
The company declined to comment to the Journal about a possible sale.