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Subway has retained advisers to explore a sale that can value the sandwich chain at more than US$10 billion (NZ$16b), the Wall Street Journal reported, citing people familiar with the matter.
The process, which is in an early stage, is expected to attract potential corporate buyers and private-equity firms, the report said, adding though it is possible there won't be a sale or other deal.
"As a privately held company, we don't comment on ownership structure and business plans," a company spokesperson told Reuters in an emailed statement.
Subway, one of the world's largest quick-service restaurant brand, has more than 37,000 restaurants in over 100 countries. The Milford, Connecticut-based company, known for its foot-long sandwiches and quick-service restaurants, has been owned by its two founding families for more than five decades.
There are more than 250 Subway franchises in New Zealand.
In 2021, media reports said Subway was tidying itself up for a sale, but the restaurant chain had denied it.
- Reuters