Business Insider
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February 25th, 2023
A new documentary on Subway and Jared Fogle couldn't come at a worse time
After years of denying rumors of a company sale, Subway has finally admitted that it is looking for a buyer.
The chain must think the timing is right. CEO John Chidsey, a former chief executive of Burger King, came to Subway in late 2019 to turnaround the company – and possibly set the chain up for sale, according to insiders. Chidsey previously spearheaded Burger King's sale to 3G Capital in 2010.
Under his watch, the chain has made menu and restaurant upgrades, such as Subway stores adding meat slicers in the coming months. Subway recently reported its second consecutive year of record sales, despite diminishing store counts and franchisee infighting.