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’ll Never Guess What Miley Cyrus Did for Her Family!
Celebrities often find themselves in the middle of gossip and scandal, and Miley Cyrus is no different. However, the latest buzz isn’t about Miley herself but about her family.
There are rumors going around that Miley’s younger sister, Noah Cyrus, might be romantically involved with their mother’s new husband, Dominic Purcell. This surprising situation has caught Miley off guard, but she continues to stand by her family no matter what.
Even though Miley Cyrus is always in the spotlight, she keeps her family life private. Sources close to her say she didn’t know about the rumored relationship between her 24-year-old sister Noah and 54-year-old Dominic Purcell, who recently married their mother, Tish. Miley only talked to her mom about it after hearing reports that Noah and Purcell might have been involved before he married Tish.
When Miley Cyrus heard the surprising news, she showed her strong support for her family. Even though the situation might seem odd, her love for her mom is more important to her than any worries she has. Miley, her mom Tish, her sister Noah, and Dominic Purcell haven’t commented on the rumors, keeping everything quiet.
The rumored romance has caused some tension in the Cyrus family. Noah Cyrus is said to be upset about her mom’s relationship with Dominic Purcell. People close to them say Noah and Purcell had a casual relationship before he started dating Tish. This lack of communication has made things difficult for the family, showing how hard it can be to deal with personal issues when you’re famous.
Adding to the complexity, Tish married Dominic Purcell in Miley’s backyard in August 2023, just a few months after Noah got engaged to fashion designer Pinkus in June 2023. This also came more than a year after Tish and Billy Ray Cyrus divorced in April 2022, which was a tough time for the Cyrus kids. Despite all these challenges, the Cyrus family is staying strong and working through their issues together.
Amid the sensational headlines and gossip, Miley Cyrus’s response shows the importance of family unity and support during tough times. Even with all the drama, the Cyrus family is trying to keep things normal. Their love and understanding help them stay strong, and Miley continues to be a solid support for her family. With grace and resilience, she helps them through difficult times, proving that love conquers all.
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