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.
This house, located at 2,800 meters above sea level, is considered the loneliest in the world and fascinates with its interior
Nestled in the Italian Dolomites, Buffa di Perrero sits at 2,800 meters above sea level and is often referred to as “the loneliest house in the world”.
Although this isolated structure has been abandoned for a century, it still captures the imagination.
The origins of the Buffa di Perrero are mysterious. It is widely believed that during World War I, workers were sent to this remote location to build some sort of shelter.
Legend has it that Italian soldiers built this hidden refuge to escape harsh weather conditions and seek shelter during battles with the Austro-Hungarian Empire.
Constructed of brick walls and a sloping roof, the building features four windows and camping chairs, stimulating curiosity about how the materials were transported to such a remote location. Steel ladders and ropes were used to negotiate the treacherous terrain and access the structure.
During World War I, similar “bivouacs” were constructed along the Italian front as temporary rest areas and strategic observation points amid the intense mountain warfare.
Since then, the weather damage has taken its toll. The hut reportedly became “unusable” for climbers after the roof collapsed. Nevertheless, adventurers can take a look into this mysterious house via steel ladders, rungs and ropes.
The interior, with its wooden decor, evokes the attempts of both soldiers and modern explorers to relax in this remote refuge.
Inspired by the Buffa di Perrero, the Auronzo Club Alpino Italiano (CAI) built a modern refuge near the Forcella Marmarole pass.
For those seeking an adventurous trip, a challenging five-hour hike leads to this modern hideaway reminiscent of the Buffa di Perrero. Like many iconic landmarks, the Buffa di Perrero has given rise to numerous imitations.
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