// Subway is being eyed for a takeover by Advent International
// Advent International is the former owner of UK high street retailers DFS and HMV
The former owner of DFS and HMV, Advent International, is considering buying US-based fast food giant Subway.
Advent has joined a line-up of suitors looking to take control of Subway, Sky News reported.
The private equity firm submitted an offer for Subway, which could reach a valuation of between £6.6bn and £8.3bn.
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Advent is one of the few companies to have progressed through to the second stage of an auction of Subway – joining rivals Bain Capital, TDR Capital – the joint owner of Asda – and TPG.
Subway said it was exploring a sale last month, paving the way for a change of ownership for the first time since its maiden store was opened in Connecticut in 1965.
The company has since expanded to 37,000 restaurant chains in more than 100 countries.
In the UK, Subway trades from more than 2,000 sites, selling made-to-order sandwiches, wraps and salads.
Bankers at JP Morgan are overseeing the sale process.
