Subway unveils its new second headquarters location in Florida
Subway officially announced its new dual headquarters office in Miami, as of March 2023. The company is establishing its new Connecticut headquarters in Shelton, after a long history in Milford as one of the largest restaurant chains in the world. (Media image via PRNewswire)
Eileen Escarda/Subway Restaurants
Miami-Dade County is renaming a street in its Waterford district as Sub Way, where the restaurant chain will have a mock restaurant to try out new formats to serve customers. About 150 Subway workers are located at the new office, which Subway confirmed last summer would become a headquarters office.
As of Friday, the company listed nearly 50 corporate jobs in Miami and Milford, a slight majority of them in Florida and with five positions listing both cities as possible landing spots for new hires.
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Chidsey lives in Coral Gables. Trevor Haynes, Subway's president of North American operations, continues to list Connecticut as his base on his LinkedIn account, while the company's chief operating officer Michael Kappitt lists Florida.
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Subway already had its Independent Purchasing Cooperative based in Miami dating back to the days of founder and former CEO Fred DeLuca, with the coop providing franchisees with supplies and ingredients. In a prepared statement, Chidsey termed Miami "an ideal location for our business to continue to evolve as part of our ongoing transformation journey."
That journey could include a new owner in the year ahead, after Subway confirmed last month it is actively soliciting offers for the business which could be worth $10 billion.
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Separately, the philanthropic foundation of the late Subway co-owner Peter Buck asserted last month that it expects to receive a 50 percent stake in the company as Buck's will is finalized.
Subway did not provide details on how the New York City-based Peter and Carmen Lucia Buck Foundation might have a say in any strategic decisions going forward, should the PCLB Foundation retain its shares. Chidsey addressed the topic briefly last month in an interview with Fox Business.
"As for the families, they own the business — it's really up to them to decide what they want to do with the asset," Chidsey told Fox Business. "All we can really do is grow the business and get franchisees in a better spot, regardless of what they choose to do."
DeLuca’s sister Suzanne Greco ran Subway for three years after the death of her brother, and continues to serve as a director of the Fort Lauderdale-based Frederick A. DeLuca Foundation, which focuses its grants on both Connecticut and Florida. Greco has a house in Fort Lauderdale in addition to one in Woodbridge.
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In January, Greco invested in an Australia franchisor that is looking to add as many as 3,000 locations in the Americas in the coming years: City Cave which offers float therapy, infrared sauna and massage services.
As Chidsey floats Subway as an acquisition opportunity for buyers, the chain missed out again this year on the influential "Franchise 500" list published by Entrepreneur where it once held the top ranking, with rival Jersey Mike's Subs grabbing the No. 3 spot on the 2023 edition behind Taco Bell and Popeye's Louisiana Kitchen.
Chidsey told Fox Business last month he expects the company's U.S. franchise base to stay at its current levels for the immediate future, while increasing revenue through a new sandwich lineup it introduced last summer, getting existing customers to come more frequently, and adding emerging "grab and go" outlets and kiosk machines. He added Subway is expecting to add thousands of franchisees in China and India in the coming few years.
"In the U.S., ... we're very developed — I think there's some room for growth but it's more about how we grow top-line sales through a re-launch of the loyalty program coming up, digital, building out our catering business, etcetera," Chidsey said. "Internationally, we have tons of room to grow -- I would say we could add another 24,000, 25,000 units outside of the U.S., if we were at the same scale as some of our competitors in terms of international versus domestic growth."
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On the home front on Monday, March 6, Subway is bracing for a fresh round of attention on a dark stretch of its past corporate history, with the premiere of "Jared from Subway: Catching A Monster" on the Discovery+ streaming service. The three-part series chronicles the investigation of Subway's onetime TV advertising pitch man Jared Fogle who is serving a 15-year sentence for crossing state lines to have sex with a minor and possession of child pornography.
Includes prior reporting by Amy Coval, Frank Juliano, Paul Schott and Luther Turmelle
Alex.Soule@scni.com; @casoulman
Alexander Soule is a business writer with Hearst Connecticut Media Group. He covers the state economy and other business news as well as penning a monthly column on personal finance for Connecticut Magazine. Before joining Hearst Connecticut, Alex started a growth economy website called Enterprise CT chronicling Connecticut startups. Before that, Alex spent six years with the Fairfield County Business Journal, and before that the Boston Business Journal, the Rochester Business Journal, Mass High Tech and InsuranceTimes in Boston. Alex is a Maine native who served a two-year enlistment in the U.S. Army (Fifth Infantry Division at Fort Polk, La.) before attending Connecticut College.
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