Quiznos up for Sale

The fastest-growing sandwich chain, Quiznos, is going to be sold on the auction block, according to The New York Times and Wall Street Journal.

The reports had unnamed sources, but said that Quiznos had hired Wall Street investment bank, Goldman Sach Group Inc. to find buyers for the chain.  Goldman Sach Group Inc. was said to have already sent out the material to potential buyers. 

Quiznos could sell for $2 billion and is a family-controlled company and has around 3,600 locations in the United States with 400 more locations internationally.  Last year alone the chain opened 800 restaurants.  They have agreements for 1,700 more franchisees that have signed agreements.  Subway in comparison has 21,000 restaurants. 

Rick Schaden and his father, Dick Schaden bought Quiznos in 1991.  The Schaden family were originally a franchisee of the company.  Quiznos was founded in Denver in 1981, after time it was taken public, but was made a private company again by the Schadens.