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.
Enchanting Equine: Rare Foal’s Remarkable Facial Markings Stun Onlookers
When Scott and Jackie Nelson first laid eyes on Coconut the horse, they were astonished to discover she hailed from Melbourne, Florida.
With over three million admirers captivated by her distinctiveness, the Nelsons felt compelled to capture her beauty when she was just two days old, eager to showcase her to the world.
At the tender age of two, the couple, proprietors of the Down Under Colour ranch where they breed horses, decided to introduce Coconut to the outdoors while filming the momentous occasion.
Described on YouTube as a War Horse, Coconut boasts remarkably rare markings. In Native American culture, War Horses were revered, often ridden by chiefs or medicine men, spiritual leaders of their communities.
To qualify as a War Horse, they must possess specific features such as one blue eye encircled by distinctive markings and a shield pattern on their chest.
In Native American lore, this eye is known as the Sky Eye. It was believed that this single blue eye could guide the spirits of a fallen Chief or Medicine Man to their gods, particularly in the event of their demise in battle. This mystical quality adds to Coconut’s allure and uniqueness.
Witness Coconut’s striking presence in the video below and experience her extraordinary beauty firsthand.
If the story of this exceptional foal has touched you as it did the Nelsons, feel free to share her tale with others.
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