Goldman Sachs arm among bidders in possible $10B Subway sale: report

Sat, March 4, 2023 

March 4 (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 could not be immediately reached for comment, while 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. (Reporting by Urvi Dugar in Bengaluru; editing by Diane Craft and Paul Simao)