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.
You Won’t Believe How Alba Found Her Forever Home – Touching Story Inside!
Becoming a parent and feeling loved by our parents is what we often hope for in a family. But life can be unpredictable, as was the case for Alba.
Alba was abandoned by her mother when she was very young. Despite being taken in by twenty families, they all eventually turned her away. However, a ray of hope entered her life.
Luca Trapanese, a gay man from Italy, faced many challenges when he decided to adopt a child. Despite the obstacles he faced from society, he was eventually allowed to adopt a young girl. This girl happened to have Down syndrome, but Luca didn’t hesitate. They formed a strong bond that everyone could see.
Luca had been told he could only adopt a child with a serious illness, significant disability, or behavior issues. But any of those options would have made him happy.
Finally, when Alba was just 13 days old in 2017, Luca officially became her father. By then, twenty families had already said no to adopting her because of her physical condition. But for Luca, Alba brought him immense joy and fulfillment, and he was honored to be her father. He took his role as a father very seriously.
Becoming a father had been a long journey for Luca, even though he had experience working with special needs. It all started when his best friend died of cancer at 14, motivating Luca to help others. He now helps people through his work with a Catholic charity.
When the opportunity to adopt a young girl came up, Luca committed to being her father wholeheartedly, even though he didn’t have a partner or live with anyone. Alba is a lively girl who loves to sing and dance and is very outgoing.
Although Luca was scared the first time he held a newborn, he knew instantly that they belonged together. He shares updates about their adventures on Instagram, where he has hundreds of thousands of followers. Together, they survived the challenges of a pandemic and became stronger.
We wish Luca and Alba a long and happy life together, filled with love and joy.
Leave a Reply