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.
“It’s Hard To Believe They Are Mother And Daughter!”: Elizabeth Taylor’s Daughter’s Appearance Astonished The Audience
The concept of beauty transcends mere inheritance, as evidenced by the enduring influence of legendary actresses like Elizabeth Taylor. Her magnetic allure captivated global audiences, establishing her not only as a cinematic icon but also as a trendsetter whose style inspired countless women
Given Taylor’s illustrious Hollywood career, it might seem natural to expect her daughter, Lisa, to follow in her celebrated footsteps.
Lisa, born to Elizabeth Taylor and her third husband, producer Michael Todd, was poised for a glamorous life in the entertainment industry. Yet, she charted her own course, opting instead to pursue a career as a sculptor.
Despite inevitable comparisons to her famous mother, Lisa remains unperturbed by external expectations. Preferring a serene existence in the countryside, she shies away from the glare of public attention.
Unlike her mother, known for her multiple marriages, Lisa has embraced a quieter personal life, having been married just once and raising two sons.
For those who admire Elizabeth Taylor’s legacy, discovering Lisa Taylor’s path may come as a surprise due to their marked differences in personality and chosen lifestyles.
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