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.
Uncover the Mystery: The Antique Hand Well Water Pump
Envision entering your grandmother’s backyard and encountering something ancient, corroded, and immensely captivating. You find yourself staring at this strange device and asking yourself, “What in the world is this?” Nevertheless, you are not alone in your curiosity, my fellow adventurers. Even with the combined power of the entire internet, the mystery behind the old cast iron hand well water pump remains rather enigmatic.
But do not worry! I’m here to explain this historic gem in simple, down-to-earth terms. Imagine a time when high-tech devices and contemporary faucets were only dreams. Rather, they depended on a dependable ally that stood tall in their backyard: the hand well water pump. This robust marvel with a rusty tint was the key to getting water that could sustain life.
An Iron-Forged Hero
Why is this artifact so unique? Let me now present the main attraction: a hand well water pump made of strong, long-lasting cast iron. Our grandparents had faith in this super hero stuff to make something that would endure a lifetime.
Imagine being able to easily turn a handle up and down. Man and nature alike are quenched as this miraculous device quenches their thirst with every movement, drawing water from a deep subterranean well.
The Everlasting Water Source
Take a trip back in time to when electricity was only a pipe dream. As the most dependable source of water, this hand well water pump was essential to the survival of innumerable villages. It was like having your very own hydration genie right at your fingertips, without the need to rub any lamps.
This little pump was a lifesaver—it could be used for anything from irrigating crops to filling tubs for opulent soaks to simply quenching your thirst on a steamy summer day. It served as a monument to our predecessors’ inventiveness and practicality in using the life-giving water that nature had given them.
The Lost Story
Few people in our contemporary world—powered by the all-powerful Google—are aware of this marvel of cast iron. It functions as an enigmatic historical code that only a small number of history buffs can decipher. But isn’t that what makes it so lovely? There are legends associated with this pump that date back to a time when laboring humans painstakingly extracted water from the Earth’s interior.
So, the next time you find one of these amazing artifacts in your grandmother’s backyard, stop and enjoy it. Go back in time and recognize the tenacity and resourcefulness of our forebears. Allow this brief historical account to serve as a reminder of the progress made in our quest to understand the power of water.
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