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.
Woman Helps Single Dad at Store, Sees Bracelet She Buried with Her Child on His Daughter – STORY OF THE DAY
Woman Helps Single Dad at Store, Sees Bracelet She Buried with Her Child on His Daughter
Linette’s routine trip to the grocery store took a shocking turn when she saw a young girl wearing a silver bracelet she had buried with her daughter five years ago. The discovery unearthed painful memories and led Linette to confront a dark chapter of her past.
While helping a struggling father in the cereal aisle, Linette noticed the bracelet on his daughter’s wrist. Her heart stopped as she recognized it immediately. “It was the same bracelet I had buried with Emily,” Linette realized in disbelief.
Haunted by the sight, Linette uncovered a scandal involving the funeral home director, Harold Simmons, who had been fired for mishandling services and allegedly selling funeral mementos, including her daughter’s bracelet.
Determined to seek justice, Linette reached out to Bob Daniels, the father she met in the grocery store. He was sympathetic, apologizing for what she had gone through and offering to help. “It wasn’t just about the bracelet but about seeking justice for the betrayal of trust,” Bob explained.
Together, they built a case against the funeral home. The court ruled in their favor, bringing Linette a sense of peace. In the end, what started as a painful discovery became a path to healing and a new beginning, with Linette finding hope in the bond she formed with Bob and his daughter, Emma.
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