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.
WHITE WOMAN HAD GAVE BIRTH TO A BLACK BABY FROM HER WHITE HUSBAND
A mother from Tennessee, Rachel, who is working as a cashier at Celina 52 Truck Stop, had welcomed her son, Cash Jamal Buck, on February 17. The situation is that Rachel and her fiance Paul Buckman are both white, while their son Cash is black.
When the parents shared the news from their Facebook account, they announced their son’s birth as, “Congratulations to our cashier Rachel and her fiancé Paul Buckman on their baby Cash Jamal Buckman being [born] on Saturday at 6:18pm.”
But when the users saw that two white parents had welcomed a black baby, they immediately accused Rachel with cheating, as they didn’t believed that Paul wasn’t the real father.
After that, Celina 52 Truck Stop had shared, “Yes, Paul is the father. Rachel has African American DNA in her which can skip generations and cause a child to be born with darker skin.”
Then they also stated that there might be possibility of jaundice, and ended their post as, “Please be kind.”
But there were many jokes under the comments section as,
“Congratulations!!! I AM sure he looks just like his dad. Where is he?”
“Definitely needs a DNA test; what if they accidentally mixed up the kiddos in the nursery?”
“I feel sorry for Paul, being duped like this is a whole new level of creep. Hopefully he’ll wise up.”
Then Rachel shared her own ancestry test result, as she stated, “For the haters saying that I [don’t] have black DNA maybe this will clear it up straight from my ancestry DNA results !!!! NOW STOP slandering mine and my [fiancé] Paul Buckman name. he IS the father of Lil Cash.”
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