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.
Fans are left in awe as Jennifer Garner, former spouse of Ben Affleck, makes a striking appearance in a strapless dress with bare shoulders and an open neckline
Jennifer Garner, the celebrated American actress, stole the spotlight at the premiere of “The Last Thing He Said to Me” in Los Angeles. Garner dazzled in a figure-hugging white dress that accentuated her shoulders and featured a plunging neckline with elegant gold stripes.
To complete her ensemble, she chose gold stiletto sandals, complemented by sparkling diamond earrings and a selection of gemstone rings. Her hair was styled in glamorous, gently slicked-back curls and her makeup was tastefully understated with smoky eyeshadow, a soft lipstick and subtle blush.
The premiere took place on April 14, with Garner taking on a role originally offered to Julia Roberts. Reese Witherspoon, who serves as a producer on the show, was also in attendance, wearing a chic one-sleeved black mini dress paired with sleek black heels. The thriller revolves around a woman’s quest to find out the truth about her missing husband while navigating a complex relationship with her teenage stepdaughter.
Despite her nervousness due to a rigorous selection process and the need to submit multiple letters, Garner portrays a character who, although initially at odds with her stepdaughter, joins forces to solve the mystery. Nikolaj Coster-Waldau plays her missing husband in the series and Anguri Rice plays her stepdaughter
Leave a Reply