Business & Tech
Subway Officially Announces Sale Exploration
Milford-based Subway announced that it is considering a sale and has retained J.P. Morgan to assist with the process.
MILFORD, CT — Subway officials announced Tuesday that they are considering a possible sale of the company.
J.P. Morgan will advise the company and conduct the sale exploration process, Subway announced in a news release today.
There is no indication of when a sale would occur.
Find out what's happening in Milfordfor free with the latest updates from Patch.
Subway is based in Milford, but is planning to move its headquarters to Shelton this spring. Some of the company's consumer-facing departments moved to Miami in 2021.
"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," a company spokesman said in a statement.
Find out what's happening in Milfordfor free with the latest updates from Patch.
The Wall Street Journal reported in January about the potential sale, which could value the company at more than $10 billion. Subway officials at the time declined to comment. Subway is a privately-held company.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
