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.
Fans Are Discussing One Detail About Princess Catherine’s Most Recent Public Appearance
On June 15th, after a period of absence due to her ongoing cancer battle, the Princess of Wales made a graceful return to public life. She joined the Royal Family in celebrating the King’s official birthday. Catherine dazzled in an elegant white ensemble, drawing admiration for her poise and charm. Despite the joy of seeing her, many observers and online commenters expressed concern, voicing similar worries about her health.
Kate beamed with grace, waving to the crowds as she and her three children, Prince George, Princess Charlotte, and Prince Louis, were greeted with cheers from the spectators along The Mall. They departed Buckingham Palace in a carriage procession, making their way to the Trooping the Colour ceremony.
Admirers lauded the Princess of Wales for her resilience and celebrated her remarkable presence. However, most opinions focused on her physique and her look divided opinions. Many noticed that she seemed ’’more regal by the minute’’. Someone even commented, ’’I’ve never seen anyone look that well after chemo!’’
That said, others thought that the Princess ’’looks miserable,’’ and one person even wrote, ’’One can see the sadness in her eyes and the eyes of her children…’’
We are thrilled to see the Princess of Wales once more and send her our best wishes for health and happiness. The past few months have surely been tough for her. On a brighter note, Prince William and Kate recently marked their 13th anniversary with joy, sharing a never-before-seen photo on Instagram. You can view it here.
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