Subway announces potential sale of the company . . . .

A report from UK-based Sky News says Goldman Sachs Asset Management and Bain Capital are among those interested in acquiring the sandwich chain.

Goldman Sachs Asset Management and Bain Capital are among those interested in acquiring the Subway sandwich chain, according to a new report from United Kingdom-Based Sky News. Other potential suitors include TDR Capital and TPG, while TSG Consumer Partners is “also monitoring the situation,” the publication reports.

These potential suitors emerge nearly two months after the Wall Street Journal broke the news that Subway was exploring a sale with an estimated valuation of $10-plus billion. Subway confirmed the sale about a month after that report was published. Sky News reports that Goldman Sachs Asset Management doesn’t typically participate in these types of auctions. According to the company’s website, GSAM oversees more than $2 trillion in assets under supervision worldwide.

Meanwhile, Bain Capital has approximately $160 billion of assets under management and a long history of partnering with restaurant companies, with previous investments that have included Bloomin’ Brands, Domino’s Pizza, Burger King, and Dunkin’ Brands, among others.

According to its website, London-based TDR Capital oversees about $15 billion in assets with investments in segments from power to higher education, and from discount retail to tourism. In the food and beverage segment, TDR’s portfolio includes Stonegate Pub Company, Napaqaro, and Pizza Express.

TPG manages $135 billion in assets and a portfolio that includes Burger King, Mendocino Parms, Philz Coffee, and more. Finally, San Francisco-based TSG Consumer Partners has nearly $20 billion in assets in categories from automotive and consumer tech to beauty and personal care.

In a statement released in February confirming its sale, Subway said, “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. The company recently announced another record-setting year, ending 2022 exceeding global sales projections and achieving eight consecutive quarters of positive same-store sales growth.”

Just last week, the Milford, Connecticut-based Subway announced a new dual headquarters building in Miami, which includes offices for consumer-facing and Latin American development staff. It also includes Subway’s first innovation center and mock restaurant.

Subway has about 37,000 locations in more than 100 countries. About 21,000 of those are in the U.S. – Source: NRN.