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Subway

Consumer Discretionary

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Subway is an American multinational fast food chain specializing in submarine sandwiches, founded in Bridgeport, Connecticut in 1965 by Fred DeLuca and Peter Buck under the original name Pete's Super Submarine Sandwiches, renamed Subway in 1968. Franchising began in 1974 and the chain grew to become the largest single brand restaurant chain and largest restaurant operator in the world by location count, with more than 37,000 restaurants across over 100 countries as of 2023, though more than 60 percent are in the United States. Subway remained under DeLuca and Buck family control for decades before being acquired by the private equity firm Roark Capital Group in 2024.

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