According to the Wall Street Journal, the owners of Subway have retained advisers to look into a potential sale of the company.

In a process reported to still be in its early stages, the sale could attract a number of potential buyers as well as private-equity companies. Further, the deal could value the global giant at more than $10 billion—however, a sale or other deal is not a certainty.

Subway said in a statement, “As a privately held company, we don’t comment on ownership structure and business plans. We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable.”

The fast-food company, best known for made-to-order sub-style sandwiches, has been under the ownership of its founding families for more than 50 years. The chain, with approximately 21,000 outposts in the U.S. and about 37,000 total global locations, had seen a downturn in recent years, thanks to the pandemic and other factors. However, the franchises enjoyed $9.4 billion in sales in 2021, up 13% from the year prior, as the restaurant chain recovered from the effects of COVID-19. Company leaders credit operational improvements and menu innovations for the recovery.

For more information on the rumored deal and recent Subway developments, read the Wall Street Journal article.