Goldman Sachs Group Inc’s asset management arm has joined a list of private equity suitors interested in acquiring US-based sandwich chain Subway, which has an estimated price tag of around $10 billion, according to a report by Sky News.
Goldman Sachs Group Inc’s asset management arm has joined a list of private equity suitors interested in acquiring US-based sandwich chain Subway, which has an estimated price tag of around $10 billion, according to a report by Sky News.
Family-owned Subway said last month that it was exploring a possible sale of the business due to soaring costs, but that there was no guarantee that a deal would be agreed. According to Sky News, a handful of interested parties including Goldman Sachs, Bain Capital, TDR Capital – which jointly owns Asda and the petrol forecourts giant EG Group and TPG, have now tabled indicative offers to acquire the company.
TSG Consumer Partners, which counts Brewdog among its investments, is also said to be monitoring the situation.
The first Subway store was opened by nuclear physicist Peter Buck in Connecticut back in 1965. The company now has some 37,000 mainly franchised outlets in more than 100 countries.
