Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
Michael Jackson’s Son “Blanket” Debuts New Nickname in Search of New Identity
Michael Jackson’s youngest child, Prince Michael Jackson II, known widely as “Blanket” for many years, made a significant personal decision to change his nickname after more than a decade. Born in 2002 via surrogate, Prince Michael Jackson II earned the nickname “Blanket” due to his father’s habit of covering him with a blanket to shield his identity and maintain privacy.
This nickname followed him throughout his early life, but by 2015, he chose to rebrand himself as “Bigi” Jackson. The decision marked a new chapter in his life, reflecting his desire to move away from the legacy of his childhood nickname.
Although Bigi is the son of one of the most iconic figures in music history, he has shown little interest in following in his father’s musical footsteps. Instead, he has emerged as an advocate for environmental causes, particularly focusing on the pressing issue of climate change. In a 2021 interview, Bigi spoke about his commitment to addressing climate change and the importance of raising awareness about this global challenge.
During the interview, Bigi expressed his admiration for the history and creativity that surrounded his father’s work, while also emphasizing the need to contribute positively to the world. He stated, “That’s what each of us want to do, make some things that people hopefully enjoy but also that benefit their lives.” His passion for climate activism reflects a deep concern for the environment and a sense of responsibility toward future generations.
After the death of Michael Jackson in 2009, Bigi, along with his siblings Prince Michael Jackson I and Paris Jackson, was raised by their grandmother, Katherine Jackson. Today, Bigi lives independently in a mansion in California.
Public reaction to Bigi’s name change and his dedication to climate activism has been overwhelmingly supportive. Many have praised him for his resilience in coping with the loss of his father and for his commitment to making a difference in the world. Supporters have expressed their admiration for his choice to focus on climate change and have wished him well in his endeavors.
Despite his famous lineage, Bigi has openly admitted that he does not possess his father’s talent for singing or dancing. Instead, he is channeling his energy into raising awareness about environmental issues, and encouraging others to take action to combat climate change.
As Bigi Jackson continues to carve out his own path, he remains dedicated to making a meaningful impact on the world, all while stepping out from the shadow of his father’s legacy.
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