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.
They are identical twins and married identical twins.
The tale of Brittany and Briana Deane, mirror-image twins who exchanged vows with identical twin brothers Josh and Jeremy Salyers, is taking on an exciting new chapter: the simultaneous anticipation of babies. This extraordinary narrative has enraptured audiences across the digital landscape.
At 33 years old, the Deane sisters reside alongside their 35-year-old spouses in Virginia, where their intertwined journey has been closely monitored by their online community. Donning coordinated attire, the sisters recently divulged their elation: Brittany and Josh are eagerly awaiting the arrival of a baby boy, while Briana and Jeremy are keeping the gender of their impending bundle of joy a delightful mystery.
“Our little ones won’t just share a family bond; they’ll be genetic siblings and part of a rare quartet!” the couples joyfully exclaimed.
The enchanting saga commenced at a twin festival back in 2017, culminating in both sets of twins saying “I do” on August 5, 2018. It wasn’t merely a union of hearts but a merging of parallel universes.
Expressing their heartfelt appreciation, the couples remarked: “We’re overjoyed and immensely grateful to embark on this journey of overlapping pregnancies and to share this incredible news with all of you!” This announcement underscores the extraordinary genetic marvel their offspring will embody, serving as a testament to the delightful unpredictability of life.
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