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.
YOU WON’T BELIEVE WHAT HAPPENED TO TAYLOR SWIFT – DRESS MISHAP EXPOSES “GRANNY PANTIES”!
Taylor Swift is one of the biggest music stars right now. She can attract a lot of fans to her concerts. She’s like Elvis and The Beatles in popularity.
But even Taylor Swift can have wardrobe malfunctions, according to reports.
Last weekend, the 34-year-old singer was in Stockholm for three sold-out shows. Around 150,000 to 200,000 people came to see her, some traveling from the US.
Swift’s concerts in Stockholm got great reviews, adding to the excitement of her Eras Tour.
But on the third night, there was a moment where Swift had a small wardrobe malfunction in front of everyone.
Reports say that Taylor Swift had a wardrobe malfunction. Her blue dress opened up as she was about to sit at the piano. It showed her gold bralette and sparkly black shorts underneath.
Swift’s wardrobe malfunction quickly made its way to TikTok, where some people were ready to criticize her.
One person on Facebook said, “Her shorts look like a diaper. So unflattering.”
Another person on Instagram commented, “Those look like granny panties…..look good on her 😂.”
Someone else even speculated if Swift was pregnant, saying, “Hmm..🤔 looking kind of round on the lower abdomen. Is she trying to tell us something?”
Another person thought the wardrobe malfunction was intentional.
Unfortunately, some people were really harsh. One said, “Well she is used to taking her clothes off soo.”
And someone else called her a “hot mess.”
But these criticisms are not fair. Taylor Swift is still a successful artist, despite what these people say. It’s sad that some people want to bring her down.
Are you a fan of Taylor Swift? Let us know your thoughts in the comments.
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