Goldman Sachs arm among bidders in possible $10 billion Subway sale, Sky News says By Reuters

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Goldman Sachs arm among bidders in possible $10 billion Subway sale, Sky News says

Published Mar 04, 2023 01:02PM ET Updated Mar 04, 2023 02:45PM ET

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Goldman Sachs arm among bidders in possible $10 billion Subway sale, Sky News says

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(Reuters) -Goldman Sachs Group Inc's asset management arm is among the suitors for the U.S. based sandwich chain Subway, which has been put up for sale with an estimated $10 billion price tag, Sky News reported on Saturday.

Bain Capital, TPG and TDR Capital are also among the other suitors, the report added.

Goldman Sachs (NYSE:GS) and TPG declined to comment.

Subway, Bain Capital and TDR did not immediately respond to Reuters' requests for comment.

The sandwich chain last month said it was exploring a possible sale of its business due to surging costs and mounting competition from deeper-pocketed rivals.

The quick-service restaurant brand did not indicate the timing or assurance of whether a sale would occur.

The Wall Street Journal in January said a potential sale could value Subway at more than $10 billion.

The company reported a 9.2% jump in same-store sales for 2022 and has more than 37,000 restaurants in more than 100 countries.

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Comments (1)

Lake Lot Mar 04, 2023 10:29PM ET

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Subway , anybody can make better sandwiches cheaper without all the paper waste . Fresh bread in a box , fake with sugar .

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