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.
Top 10 Most Dangerous Beaches in the World
Hawaii’s Kilauea Hawaii is well-known for its magnificent beaches, huge waves, and ideal weather for tanning, but it’s not without its risks. Hawaii is home to many volcanoes, the most active of which is Mt. Kilauea.
Kilauea beach has black sand due to volcanic ash, and although it’s a great spot to visit, there’s always a chance of the volcano erupting.
Mexico’s Playa Zipolite #2
Even though the moniker implies that this is the “beach of the dead,” a lot of people still come here each year, despite this warning.
3 Australia’s Fraser Island
Unfortunately, because of the hazardous jellyfish and sharks that inhabit the waters, Fraser Island is a paradise that is off-limits to humans. The island is home to some of the deadliest spiders in the world as well as a few huge crocodiles, so the beach is equally perilous.
4 South Africa’s Gansbaai
5 County of Volusia, Florida
6 India’s Chowpatty Beach
7 Bikini Atoll, US Islands of Marshall
The waters are teeming with sharks, and from 1946 until 1958, the area served as a nuclear weapons test site.On the islands, some 20 nuclear bombs were detonated, causing radioactive fallout. After all, the location has been deemed safe by the authorities.
8.Russia’s Schitovaya Bukhta
Although Schitovaya Bukhta is renowned as one of the best places in the world for surfing, it is also home to a number of military installations.
9.Antarctica’s Heard Island
10 Andaman Islands’ North Sentinel Island
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