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.
We Took in a Homeless Man for the Winter — The Package He Left Before Leaving Broke Us
A freezing night and a simple act of kindness brought a homeless man named Jeff into Ellie’s home and her life. But as their bond grew, an unexpected discovery unraveled secrets from the past.
For months, I saw him sitting near the bench by the bus stop outside my office. He always had that same small, battered kit, fixing shoes like it was his job. His clothes were clean but shabby, and his hands were rough, though they moved with such care.
A homeless man | Source: Freepik
I couldn’t help but notice him. Something about the way he carried himself struck me. He never begged or even looked like he wanted anything from anyone. I started saying hello when I passed by. He’d smile politely, nod, and go back to his work.
One day, on a whim, I handed him a shoe with a broken heel. “Do you think you can fix this?” I asked, unsure why I even stopped.
A woman with her shoes off | Source: Freepik
He looked up at me, his eyes warm but tired. “Sure thing,” he said, holding it up to inspect. “Should take me about twenty minutes.”
I sat nearby, watching him. He was quiet but focused, like fixing that shoe was the most important thing in the world. When he handed it back, it was as good as new.
“What’s your name?” I asked.
A young businesswoman talking to a homeless man | Source: Midjourney
“Jeff,” he said simply, tucking his tools back into the kit.
One night, just before Christmas, the air was freezing. I pulled my coat tighter as I walked to my car, but something made me stop. Through the window of a café about to close, I saw Jeff. He was sitting alone at a table, his head down, clutching a small package wrapped in brown paper.
A homeless man looking down | Source: Freepik
I stepped inside, the warmth hitting me immediately. “Jeff,” I said softly, walking over to him. “What are you doing here? Don’t you have somewhere to go?”
He looked up, startled at first, then relaxed when he saw me. “Shelter’s full tonight,” he said, his voice low and steady. “But don’t worry, I’ll manage.”
I frowned. “It’s freezing out there. You can’t stay out in this.”
A serious woman outside in the snow | Source: Freepik
He shrugged. “It’s not the first cold night I’ve had.”
The thought of him out there in that weather made my chest tighten. “Come home with me,” I blurted.
He blinked. “What?”
“I mean it,” I said, more firmly this time. “We have a basement. It’s not fancy, but it’s warm, and there’s a bed. You can stay there for the night.”
A woman talking to a homeless man | Source: Midjourney
Jeff shook his head. “I can’t—”
“Yes, you can,” I interrupted. “Please. I won’t be able to sleep if I know you’re out here.”
He hesitated, his eyes searching mine. “You’re too kind, you know that?” he said finally, his voice soft.
I smiled. “Come on.”
A smiling woman outside in winter | Source: Freepik
The next morning, I woke up to the smell of bacon and the sound of laughter. I found Jeff in the kitchen, flipping pancakes while my kids sat at the table, grinning ear to ear.
“Mom, Jeff’s so funny!” my youngest said, her face sticky with syrup.
Jeff glanced over and smiled sheepishly. “Hope you don’t mind. Thought I’d make myself useful.”
I shook my head, smiling back. “Not at all.”
Freshly baked pancakes | Source: Pexels
Later that day, I went down to the basement to check on him. Everything that had been broken, an old lamp, a wobbly chair, even a leaky faucet, was fixed. He’d polished all our shoes too.
That evening, I brought it up to my husband. “What if we let him stay for the winter?”
He raised an eyebrow. “You’re serious?”
“He’s kind, he’s helpful, and…” I paused. “I don’t know. It just feels right.”
A couple talking | Source: Freepik
After a long silence, my husband nodded. “Okay. But just for the winter.”
When I told Jeff, he looked stunned. “I can’t impose like that,” he said.
“It’s not imposing,” I assured him. “We’d like to have you here.”
For the next few weeks, Jeff became part of the family. The kids adored him, and he was always finding ways to help around the house. It felt like he belonged with us, though I couldn’t explain why.
A man washing the dishes | Source: Pexels
One evening, we were sitting in the living room, chatting about old times. I pulled out a photo of my parents to show him.
“This is my mom and dad,” I said, handing him the picture.
Jeff froze, his face going pale. His hands trembled as he stared at the photo. “Your mom…” he whispered, his voice barely audible.
“What’s wrong?” I asked, alarmed.
An elderly man looking at a photo | Source: Pexels
But he didn’t answer. He just stood up abruptly and left the room.
The next morning, he was gone. All that was left was his package, carefully placed on the pillow in the basement.
It was the same brown paper package Jeff always carried, the one he never let out of his sight. Now it was here, deliberately left behind. I stared at it for a long moment before slowly peeling back the paper.
A brown package | Source: Pexels
Inside was a photograph and a folded letter.
I picked up the photo first. My breath caught in my throat. It was Jeff—much younger, his face free of the wear and sadness I’d come to recognize. He was smiling, holding a baby wrapped in a pink blanket. On the back, in neat handwriting, were the words: “Jeff and Ellie, 1986.”
I stared at the name. My name.
A happy man with his daughter | Source: Midjourney
My hands shook as I unfolded the letter. The words blurred as tears filled my eyes, but I forced myself to keep reading.
Jeff wrote about his life, his mistakes, and the love he lost. He explained how he’d met my mother when they were young and deeply in love. But life hadn’t been perfect. He admitted he’d cheated, a mistake he regretted every single day. When my mother found out, she left him, cutting him out of her life completely.
A senior man writing | Source: Freepik
“I tried to see you,” he wrote. “I begged her to let me stay in your life, but she wouldn’t hear it. She moved away, and I had no way to find you. I lost everything—my family, my career, my home. I never forgave myself for failing you. When I saw your mother’s photo, I knew immediately who you were. But I was too ashamed to tell you. I didn’t deserve you, Ellie. I still don’t.”
The letter ended with: “I love you, my little Ellie, more than I can ever say. I hope you can forgive me someday.”
An elderly man writing | Source: Freepik
I sat there, stunned, clutching the photo and letter. How could this be true? My father, the man I believed had abandoned us, was Jeff?
My shock quickly turned into anger. I grabbed my phone and called my mom. She answered on the second ring.
“Ellie?” she said, her voice bright.
An elderly woman on her phone | Source: Pexels
“How could you?” I snapped.
She paused. “What are you talking about?”
“Jeff. I know everything. I know who he is. Why didn’t you tell me?”
There was silence on the other end of the line, then a shaky breath. “Ellie… it’s complicated.”
An angry woman on her phone | Source: Freepik
“Complicated?” I shot back. “You told me he left us. You said he didn’t want to be part of our lives. But that’s not true, is it?”
Through tears, she admitted the truth. She’d been hurt, angry, and unwilling to forgive him. She thought it would be easier to raise me without him, so she cut him out completely.
“I thought I was protecting you,” she said. “I never thought you’d find him. I’m so sorry.”
A sad elderly woman on her phone | Source: Freepik
I hung up, overwhelmed. Everything I thought I knew about my life had been a lie.
For weeks, I searched for Jeff. I went to the spots I’d seen him before, hoping to catch even a glimpse of him. Each day I came home disappointed.
Then, one afternoon, I saw him. He was sitting on a bench near my workplace, staring into the distance. He looked smaller, sadder.
A sad homeless man | Source: Freepik
“Jeff,” I called softly.
He looked up, and his eyes filled with recognition and something else—regret. “Ellie,” he said, his voice barely above a whisper. “I’m sorry for leaving. I couldn’t… I didn’t know how to face you after you found out.”
I walked closer, my chest tight with emotion. “You should’ve stayed,” I said. “You’re my father. I needed to talk to you, to understand everything.”
A young woman talking to an elderly man | Source: Midjourney
His shoulders slumped. “I didn’t think I deserved that.”
I sat down beside him. “Maybe not. But you’re here now. And that’s all that matters.”
He looked at me, his eyes glistening with tears. “Do you think… you can forgive me?”
I leaned in and hugged him tightly, the tears finally spilling over. “I already have, Dad.”
A crying elderly man | Source: Pexels
From that moment on, everything changed. Jeff came back into my life, not just as a father but as part of the family. My kids adored him—they called him Grandpa Jeff, and he loved every second of it.
He wasn’t perfect. We had years of pain and misunderstanding to work through, but he tried every day to make up for the time we’d lost. His kindness, his humor, and his quiet strength became a foundation for our family.
Grandfather and his grandson | Source: Pexels
Looking back, I realized how much I almost lost by holding on to anger and pain. Forgiving Jeff didn’t just heal him, it healed me, too.
Sometimes, second chances aren’t about what we deserve. They’re about what we’re willing to fight for.
And we fought for each other. Every day, we fought to rebuild what we’d lost.
A hopeful woman | Source: Freepik
Liked this story? Consider checking out this one: Thanksgiving dinner at my house was shaping up to be the same as always. But when my mother-in-law, Linda, walked in clutching her sweater tightly, I couldn’t shake the feeling that she was hiding something. And I was right. There was something under her shirt and it left us all speechless.
This work is inspired by real events and people, but it has been fictionalized for creative purposes. Names, characters, and details have been changed to protect privacy and enhance the narrative. Any resemblance to actual persons, living or dead, or actual events is purely coincidental and not intended by the author.
The author and publisher make no claims to the accuracy of events or the portrayal of characters and are not liable for any misinterpretation. This story is provided “as is,” and any opinions expressed are those of the characters and do not reflect the views of the author or publisher.
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