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.
Jennifer Lopez ‘seemed off’ in pics taken days before rumored split from Ben Affleck
It seems that there’s trouble in paradise for Jennifer Lopez and Ben Affleck. At least, that’s what the internet has been saying for the past few days.
Sadly, multiple news outlets suggest that things may not be looking good for the power couple, affectionately referred to as ‘Bennifer’.
Rumors of a potential split have slowly been intensifying as new details come to light.
Last week, Ben Affleck was spotted driving in Brentwood, Los Angeles. According to TMZ, the actor was leaving a house where he had apparently been staying alone. The following day, paparazzi caught him again, leaving the same location.
Affleck, once more riding solo, was reportedly not seen at the $60 million Beverly Hills estate he shares with Jennifer Lopez the previous evening. This absence has led some fans to express their dismay over the potential breakup.
“Why are they breaking up?” a sad fan wrote on X.
Another fan expressed their shock at the breakup rumors, saying on Facebook: “Noooooo!!!!!!!!!!! This can’t be happening!!!!!”
Similarly, someone else simply commented: “That’s not true.”
However, others are less surprised by the rumors… One person even claimed they expected this outcome all along.
“I wouldn’t be a bit surprised if they have secretly split. I knew from the moment they got married, it [would] not be till death do us part. This is her fourth marriage, how is it truthful on her vows?” an X user wrote.
Meanwhile, a hopeful fan chimed in with: “I hope things work out between them!”
Further complicating the couple’s relationship status is the fact that Affleck and Lopez have not been publicly photographed together for over a month. The last time they were seen together was on March 30, holding hands in New York City.
Lopez stayed in New York in April and May to promote her upcoming Netflix movie, Atlas. She was also preparing for and attending the Met Gala as a co-chair, without Affleck.
While Lopez was occupied in New York, Affleck was on the West Coast reportedly filming The Accountant 2. He also attended Tom Brady’s comedy roast on May 5, without Lopez.
Commenting on Lopez’s demeanor during her big night at the Met Gala, one Facebook user wrote: “She looked super stressed and tired at the Met Gala. I figured it was […] her tour rehearsals and filming … Maybe it was this … I root for them.”
“That’s what I was thinking,” replied one user. Another added: “Agree! She looked awful, stressed, and strained. Did not look herself at all.”
A third wrote that the actress “seemed off.”
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