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.
A Woman’s Composure Fizzles, Leading to…
A lady failed the written and… A woman bombed the composed driving test multiple times. The fifth endeavor is not set in stone. Be that as it may, the test had a similar inquiry, “You are driving at 100 km. On your right is a wall, and to your left side is a bluff.
Out and about you see an elderly person and a young fellow. What will you hit? The lady approached the analyst and The lady approached the inspector and said, “I’ve addressed this question each of the four different ways, wall, precipice, elderly person, and young fellow, yet I flopped every one of them multiple times. How can this be the case? What am I expected to hit???” The analyst answered, “The brakes!!!”
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