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.
“Amazing Grace” performed by 200 bagpipes brings audience to tears
This rendition of “Amazing Grace” demonstrates the wide spectrum of emotions that music may arouse. People can see the light that does exist in this world and find hope again with the assistance of the video we’re sharing below.
A lone singer is the focal point of the opening scene, which features over 200 bagpipers. The quiet passages gradually give way to his solo performance of Amazing Grace, a soft, baritone song. As he sings each song into the reverberating arena, his voice is mesmerizing. Many more said that his last note chilled them to the bone and brought them to tears.
The song was resumed by a lone bagpiper after the singing finished. playing “Amazing Grace” on the bagpipes at the same leisurely tempo as the singer had adopted. Everyone’s attention moved from the vocal performance to this musical interpretation of the well-known hymn, and the spotlight beamed down.
After an enthralling bagpipe version of the song, more than two hundred bagpipers joined in for the song’s second stanza. Viewers were able to observe the pride and stoicism on each performer’s face as the camera panned between several angles of them. The song’s impact was increased by the bagpipes’ incredible volume.
And the show wasn’t finished even after all of this. The baritone voice began to accompany the bagpipes as another verse began, lending vocal accompaniment to the song’s final sections. Performers surrounded each other with brightly lighted torches as they slowly made their way inside. Amazing visual effect as the camera gave an overhanging view of the performers.
Following the performers’ performance, the audience applauded and clapped. With the same grace as when they had entered, the people holding the fiery torches turned around and left the stage. To allow the audience time to process the powerful performance they had just seen, the mood stayed solemn.
With over 1.5 million views and an abundance of positive comments in the comment box, this beloved hymn gives many people courage and faith each time it is sung. It serves as a reminder that despite our differences, solidarity is essential to navigating these unsettling times.
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