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.
She said, Simon you are my favorite, push the ‘Golden Buzzer’. What happened after that stun everyone.
Sophie Fatu, a four-year-old, gains sudden fame for her amazing singing talent and deep emotional expression.
Her timeless performances captivate audiences with their profound wisdom, as she flawlessly delivers a captivating rendition of Frank Sinatra’s iconic song “My Way,” leaving everyone astonished until the very last note.Sophie impresses her listeners with her distinct and attractive voice, which has a unique clarity. Sophie shines because of her sincere passion and commitment to music.She expressed her love for Simon as a judge and shared a dream where she pictured him pressing the golden buzzer. Simon couldn’t control his laughter at first, but then he watched the video.
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