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.
Justin Bieber Shares Crying Photos and Fans Are Worried
From his meteoric rise to fame as a teenager to his more recent successes in music and personal growth, Justin Bieber’s journey has been closely followed by millions. However, it’s not just his chart-topping hits and sold-out concerts that keep fans invested in his story; it’s also his willingness to share his struggles and vulnerabilities, particularly through social media platforms.
In 2023, Bieber made headlines when he decided to end his Justice World Tour prematurely to prioritize his health. The reason behind this decision was his diagnosis of Ramsay Hunt syndrome, a condition that comes from the same virus as chickenpox.
Despite the disappointment of canceling tour dates, Bieber chose to be transparent with his fans about his health journey. Taking to Instagram, he shared a candid video, showcasing the temporary paralysis he experienced—a symptom of the condition. This openness not only provided insight into his challenges but also fostered a deeper connection with his audience.
Recently, Bieber once again turned to social media to share a glimpse into his emotional state. In a series of photos, the 30-year-old singer showcased various moments from his life, including moments on stage, and casual snapshots. However, it was the final two images that sparked a strong response from fans. In these selfies, Bieber can be seen with tears streaming down his face, his vulnerability laid bare for the world to see.
The outpouring of support from fans was immediate and heartfelt. Comments flooded in, expressing concern, empathy, and encouragement. Some reassured Bieber of their unwavering support, while others offered words of solace and prayers. Even Bieber’s partner, Hailey Bieber, joined in, affectionately remarking on his appearance as a “pretty crier.”
What makes Justin Bieber‘s openness on social media so impactful is its authenticity. In an era where carefully curated images often dominate feeds, Bieber’s willingness to share both the highs and lows of his life serves as a powerful reminder of our shared humanity. By showcasing his vulnerabilities, he not only invites empathy and understanding but also encourages others to embrace their own imperfections.
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