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.
“Girl Crush” von Leona Lewis und Adam Lambert
Adam Lambert and Leona Lewis teamed up for a remarkable rendition of the Little Big Town hit “Girl Crush”, delivering a mesmerizing vocal performance that captivated the audience. Known for their powerful vocals, Lambert and Lewis effortlessly captivated the live audience with their exceptional performance, showcasing their undeniable musicianship.
Their collaboration quickly gained momentum, reaching millions of views on YouTube. Viewers and critics alike praised Lambert’s exceptional vocal abilities, sparking renewed discussion about his remarkable journey since his time on “American Idol”. Many enthusiasts continue to debate whether Lambert has one of the most remarkable voices in contemporary music.
Lambert’s influence on “American Idol” remains a standout moment, particularly highlighted by his electrifying performance of Steppenwolf’s classic “Born to be Wild”. In a rock ‘n’ roll ensemble of leather jacket and black jeans, Lambert exuded raw energy. He captivated audiences with his magnetic stage presence and vocal versatility, transforming the iconic rock anthem into a melodic showcase adorned with his trademark vocal flourishes.
Experience Adam Lambert and Leona Lewis’ breathtaking duet “Girl Crush” below and immerse yourself in the enchanting synergy of their vocal talents.
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