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.
Angelina Jolie Is “Unhappy” as Shiloh Chose to Move in to Brad Pitt’s Fancy Mansion
Recent reports have unveiled a significant development concerning Shiloh Jolie-Pitt, casting a spotlight on the intricate dynamics within the Jolie-Pitt family.
Shiloh Jolie-Pitt has reached a consequential decision: she will be departing from her maternal residence under the care of Angelina Jolie to relocate to her paternal abode, under the roof of Brad Pitt’s fancy mansion, until attaining the age of 18, as per the latest revelations.
However, the news has stirred emotional turbulence within Angelina. She is disheartened by Shiloh’s inclination towards residing with Brad, particularly in light of their tumultuous past. “Naturally, Angelina wasn’t happy,” a source told.
Although Shiloh’s siblings may not share her sentiment towards Brad, a profound connection exists between father and daughter, as relayed by a reliable source.
Angelina’s response to Shiloh’s decision is tinged with reluctance; she acknowledges Shiloh’s autonomy in decision-making as she transitions into adulthood, yet finds the adjustment challenging.
Shiloh’s choice does not stem from discontent with Angelina; rather, it signifies her readiness for change as she approaches adulthood. Despite the shift in living arrangements, Shiloh affirms her intention to maintain regular visits to Angelina and her siblings, thereby ensuring continued familial bonds.
In 2022, a report highlighted the profound bond between Shiloh and her father. Their shared interests foster a deep, affectionate relationship characterized by mutual understanding. Brad’s support for Shiloh’s aspirations is unwavering; he empowers her without imposing his own desires, creating a nurturing environment where Shiloh can freely pursue her dreams. This foundation of trust allows Shiloh to confide in her father with confidence, knowing she will be heard and understood.
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