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.
15 Times People Got the Best When They Least Expected It
Sometimes life spoils us with a fantastic gift without giving us any hints beforehand. Some people think these unexpected events are just lucky coincidences, while others believe that the universe has waited for the right time to reward us for a good deed we’ve done in the past. Either way, it is always a blessing to get a pleasant surprise to brighten an ordinary day and add sparkles of wonder to our eyes.
Bright Side believes that days can be so exciting because a life-changing event can happen at any moment. Here are some unbelievably cool situations that were caught on camera.
1. ’’I met Jim Carrey! I never thought he’d be cool with making faces with me, but he was totally down.’’
2. ’’The hairiest, most goofy-looking llama I saw in all of Peru’’
3. ’’I did an art exchange. I made some paper art and he made me a puppet of myself! Best deal ever.’’
4. ’’My son smiled sweetly at the barista and got this hot chocolate in return.’’
5. ’’My brother drove 9 hours overnight to surprise my mom with her niece.’’
6. ’’My new security camera surprised me with a beautiful photo of a flying bird.’’
7. ’’I was looking in my mom’s college yearbook and came across a familiar face.’’
8. ’’I sent my girlfriend a postcard a few months ago. Today, she gave me a new pair of shoes.’’
9. ’’My father found my baby blanket and gave it to me for Christmas.’’
10. ’’25 years later I discovered I’m in the Notre Dame Hall of Fame because I photobombed the photo.’’
11. ’’I got lucky to get this crazy long mutant Dorito.’’
12. ’’Do you know the feeling you get when the middle seat is open next to you on a flight? I can beat that.’’
13. ’’I found this while cleaning out my grandma’s house.’’
14. ’’So I came across this guy at my sister’s graduation: Professor Sir Patrick Stewart.’’
15. ’’Since I was a kid, my mom collected everything she found in my pocket and put it in this lamp. It was her surprise for my wedding.’’
When was the last time you had a really pleasant surprise? Do you believe that some people are naturally luckier than others?
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