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.
Man Rescued a Trapped Crying Wild Horse: How It Thanked Him is Unbelievable
In a heartwarming turn of events just outside of Calgary, a team of compassionate individuals came together to save a distressed horse trapped in a treacherous wetland. The horse had strayed into the marshy terrain during a period of heavy rainfall, posing a significant risk to its safety.
Darla Connelly, who oversees such incidents, had expressed concerns about the newly arrived herd’s unfamiliarity with the challenging landscape, especially during this unusually wet season. Sadly, her fears materialized when a young horse wandered too far and found itself ensnared in the muddy quagmire.
As soon as the stranded horse signaled its distress, the rescue efforts kicked into high gear. Volunteers from the Help Alberta Wildlife Society swiftly mobilized, utilizing ATVs and specialized equipment to reach the scene. The horse was desperately struggling to stay afloat, teetering on the brink of sinking deeper into the mire.
One brave volunteer, Daryl Glover, ventured into the perilous mud to approach the frightened mare. With meticulous precision, he secured a rope around her hindquarters, providing crucial support during her ordeal. Through their coordinated efforts, the crisis was averted, and the horse began to regain its footing.
In a touching display of gratitude amid the tension of the rescue operation, the horse surprised everyone by approaching Daryl, nuzzling him, and even sniffing him in acknowledgment, rather than fleeing in fear. This unexpected gesture left the rescuers, including Darla Connelly, deeply moved, highlighting the profound connection between animals and humans.
With the assistance of the rescue team, the horse managed to find solid ground and make its way to safety. As it trotted off towards the safety of the tree line, seemingly unharmed, the volunteers, covered in mud yet filled with pride, marveled at the bond forged through their shared experience.
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