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.
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Dawn Wells was a talented actress renowned for her portrayal of Mary Ann on the iconic television series “Gilligan’s Island”. In the accompanying image, she is seen in character, dressed in a stylish short-sleeve patterned shirt and dark shorts, set against a vibrant backdrop of tropical greenery and trees, perfectly capturing the essence of an island paradise.
Mary Ann was known for her sweetness and warmth, earning her a special place in the hearts of countless fans. Wells brought this character to life with such authenticity that Mary Ann felt both relatable and cherished.
Born on October 18, 1938, Wells developed a love for acting early in life, dedicating herself to the craft through theater studies and relentless practice. “Gilligan’s Island” debuted in 1964 and enjoyed enduring popularity, with Mary Ann remaining a standout favorite among viewers long after the show concluded.
Dawn Wells left an indelible mark on the television landscape, celebrated for her remarkable talent and the kindness she embodied as Mary Ann in “Gilligan’s Island”.
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