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.
Lisa Marie Presley kept her son Benjamin’s body at home for two months after he passed away.
Lisa Marie Presley was so devastated by the loss of her son, Benjamin Keough, that she kept his body in her home for two months after he passed away. She even invited a tattoo artist to see him so she could get matching tattoos.
This is just one of many surprising details in Lisa Marie’s new memoir, From Here to the Great Unknown, which was completed by her daughter, actress Riley Keough, after Lisa Marie passed away in January 2023.
Lisa Marie (left) next to her beloved son Ben, along with her third husband, Michael Lockwood, and a guest, at the London premiere of “Harry Potter and the Deathly Hallows” in November 2010.
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In her book, Lisa Marie shared that she had to fight to stay alive for her other children, Riley and her twin daughters Harper and Finley, who are now 16. She didn’t say goodbye to Benjamin right away because she was torn between burying him in Hawaii or at Graceland, the Memphis estate where Elvis, her father, is buried.
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Lisa Marie kept the room at 55 degrees to preserve Benjamin’s body and got so used to caring for him and having him there.
Riley and Lisa Marie decided to honor Benjamin by getting tattoos like his. Benjamin had his sister’s name on his collarbone and his mom’s name on his hand. Riley had her brother’s name tattooed on her collarbone, and a tattoo artist was called to Lisa Marie’s home to add Benjamin’s name to her hand. When the artist asked if they had photos of Benjamin’s tattoos to match the font and placement, Lisa Marie said, “No, but I can show you.”
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Riley writes: “Lisa Marie Presley had just asked this poor man to look at her dead son, who was right next to us in the guest house. I’ve had a very strange life, but this moment is one of the weirdest.”
Lisa Marie also knew it was strange. She said, “I think it would scare the heck out of anyone else to have their son there like that. But not me.”
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Soon after the tattoo day, Riley remembers that everyone felt like Benjamin wanted to be laid to rest.
Even Lisa Marie said she could feel him communicating with her, saying, “This is crazy, Mom, what are you doing? What the heck!”
The family held a funeral for Benjamin in Malibu, and New Age author Deepak Chopra led the ceremony. Riley said she had to keep her eyes closed the whole time because she was struggling to cope with everything.
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Benjamin was buried at Graceland, next to Elvis, and Lisa Marie would later be buried there too.
Riley writes a lot about her brother’s struggles with mental health and how he often went on drinking binges. She doesn’t believe he truly wanted to die.
After his death, she and her mom went through his phone, looking for answers.
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Riley writes, “We found a text he sent to my mom a couple of weeks before he died that said, ‘I think something’s wrong with me mentally. I think I have a mental health issue.’ It’s heartbreaking to me that he only realized he might need help just two weeks before he took his own life.”
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