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.
The Legacy of Roy Rogers and Dale Evans: Meet the Cowboy Icon’s Nine Children
Roy Rogers, famously dubbed the “King of the Cowboys”, and his spouse Dale Evans, known as the “Queen of the West”, emerged as early luminaries in Hollywood’s nascent television era.
Rogers, celebrated for his role as the singing cowboy alongside his loyal palomino Trigger, ascended to become the preeminent star of Westerns during his time. He starred in more than a hundred films and headlined his own television series, The Roy Rogers Show.
Over the course of his life, Rogers fathered a total of nine children through his marriages with Grace Arline Wilkins and Dale Evans. While some of his offspring followed his footsteps into the entertainment industry, others pursued quieter lives away from public scrutiny. Here’s an individual glimpse into each of Roy Rogers’ children:
Cheryl Rogers: Adopted in 1941 with his second wife, Grace Arline Wilkins, from Hope Cottage in Texas. Cheryl grew up in the presence of her father’s beloved horse Trigger and appeared in several of his films during her childhood, including Meet Roy Rogers and Trail of Robin Hood.
Linda Lou Rogers: Born two years after Cheryl’s adoption to Grace. Linda married Gary Johnson, a minister, and the couple shared over four decades together until his passing in 2008. Linda now resides in California, surrounded by their children and grandchildren.
Roy Rogers Jr. (Dusty): The only biological son of Roy Rogers, born shortly before Grace’s untimely death due to childbirth complications. Dusty made childhood appearances on The Roy Rogers Show and later managed his father’s career. He also performed with the Sons of the Pioneers and formed his band, Roy Rogers Jr. and the High Riders.
Robin Elizabeth Rogers: The only child born to Dale Evans and Roy Rogers, Robin tragically passed away before her second birthday due to complications from the mumps. In her memory, Dale authored the book Angel Unaware.
Dodie Rogers: Adopted at seven months old, Dodie, of Native American heritage, married Jon Patterson, a NASA employee, and they welcomed a daughter named Kristin. Dodie now enjoys her role as a grandmother.
Mimi Rogers: Born Marion Fleming in Edinburgh, Scotland, Mimi was discovered by Roy and Dale in a children’s home due to her exceptional singing talents. She became a cherished member of their family, marrying Dan, a Marine Corps member, with whom she had three children before his passing. Mimi is now a grandmother herself.
Debbie Rogers: Adopted during the Korean War after becoming orphaned, Debbie tragically died at the age of 12 in a bus accident in Los Angeles while traveling with other children from her church.
Sandy Rogers: Adopted following Robin’s passing, John David “Sandy” Rogers later joined the U.S. Army but sadly passed away at age 18 in a choking incident at a military hospital in Germany.
Tom Fox: Dale’s biological son from her previous marriage, Tom was raised by Roy and Dale. He pursued a career as a school teacher and music minister before his passing in 2012.
The saga of Roy Rogers and Dale Evans’ family is marked by a tapestry of happiness, sorrow, and love, emblematic of their enduring family values and profound legacy.
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