Subway Sandwich Chain Might Finally Have A Buyer: Report

MILFORD, CT — Subway, one of the nation's largest fast-food chains, might finally be headed to a sale after multiple setbacks, according to the Wall Street Journal.

After recently pulling ahead of rivals TDR and Sycamore, Roark Capital could finalize the $9.6 billion deal this week if no higher bids are made, the outlet reported.

The sandwich chain initially pushed its bidding deadline from July to August after failing to get the $10 billion minimum it is seeking in its sale, sources told The New York Post.

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The Wall Street Journal first reported in January about the privately-owned company's potential sale and its possible value of more than $10 billion.

Subway officially announced it was considering a possible sale of the company in February and that J.P. Morgan would be its advisor.

As of May, bids for the chain had ranged between $8.5 billion and $10 billion, a source told Reuters.

Subway is based in Milford, but plans to move its headquarters to Shelton this fall, the Shelton Herald reported in June.

Some of the company's consumer-facing departments moved to Miami in 2021.