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.
My Husband’s Grown Children Interrupted Our Honeymoon to Demand Our Villa, They Learned a Valuable Lesson About Respect
My husband’s kids didn’t like me. They never did. But my husband, Jack, stood by me when they crossed the line. His actions taught them a big lesson, leading to apologies and a chance to mend our relationships.
Jack had three kids from his first marriage when we met. Their mom had passed away years before I came into the picture. When Jack introduced me to them, it was clear they weren’t thrilled about it. Understandable, given the age gap between Jack and me.
I’m ten years older than Jack, and we’ve been together for over nine years, engaged for four. His kids, all over 21, never warmed up to me. Even though I never tried to replace their mom, they made me feel unwelcome whenever we were together.
I only moved in after they had left for college. Yet, they continued to act like I didn’t belong. When Jack proposed, they got even colder, disrespecting me behind his back. I kept quiet to avoid conflict, knowing Jack had already faced enough challenges as a single dad.
Jack worked hard to provide for his kids, even after they moved out. He wanted to make up for their mom’s absence. We finally had a small civil wedding, which his kids didn’t attend. They claimed they had other plans. We shrugged it off and focused on our honeymoon in the Bahamas.
But just two days into our trip, his kids showed up uninvited. They mocked me, belittled our relationship, and ruined our special time. When Jack found out, he unleashed his fury, kicking them out and cutting off their financial support.
It was tough love, but it worked. His kids realized their mistake and apologized. Jack forgave them, and we started anew, building a stronger bond than before. His actions during our honeymoon not only protected our happiness but also taught his kids important lessons about respect and responsibility. In the end, our family emerged stronger, thanks to Jack’s tough but necessary decisions.
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