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.
Tallulah, Bruce Willis’ daughter, shared a heartfelt message about her dad as he faces a challenging battle with dementia. She expressed her deep love and support for him during this tough time.
Tallulah Willis (left) and Bruce Willis (Getty Images)
Tallulah, Bruce Willis’ daughter, recently shared an update on how her family is coping with his dementia diagnosis. Bruce, 69, has frontotemporal dementia (FTD), a rare type of dementia that affects behavior and language and gets worse over time.
Tallulah admitted that she’s just starting to really deal with her emotions about her dad’s condition, after trying to avoid them before. On Instagram, she posted pictures of them together, saying, “I love this guy so much. It’s hard to feel these emotions, but I’m thankful I can now instead of pushing them away.”
She also shared some old photos of them hugging, having dinner, and looking through his old magazine covers, calling them memories “from the forever archives.” Last month, she spoke on the Today Show, saying that while Bruce is stable, it’s a tough situation with good and bad days, but there’s still a lot of love in their family.
Tallulah, Bruce Willis’ daughter, shared that her dad’s diagnosis has taught her to use her time more wisely and appreciate every moment she spends with her family, especially with him.
She said, “It’s made me realize not to take any moment for granted, and I really believe we’d be best friends. I think he’s very proud of me. You have to live in the moment and be present.”
In March 2022, Bruce was first diagnosed with aphasia, a condition that affects communication skills. Later, his other daughter, Rumer, shared that he got a more specific diagnosis of frontotemporal dementia (FTD), a rare and more aggressive type of dementia.
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