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.
Taylor Swift & Travis Kelce Drop Huge Super Bowl Surprise, Here’s What They Are Planning To Do
Travis Kelce, Taylor Swift Super Bowl wedding proposal prop bet appears on online sportsbook. If you have a hunch that Travis Kelce can break the internet at the Super BowI, you can put your money where your mouth is.
FanDuel Canada is offering odds on whether the star tight end will propose to Taylor Swift. Of course, prop bets are insanely popular for the big game — common wagers include the length of the nationaI anthem, the color of the Gatorade for the winning team, and even the result of the opening coin toss.
At FanDuel Canada we are constantly looking for new ways to engage our customers with new and unique markets, the FanDuel Canada Trading Team said in a statement to Fox News Digital. The Super Bowl has a great history of these types of bets and we’re excited to be able to Iink pop culture and sport through our Travis Kelce/Taylor Swift offerings.
The odds opened up at +140 for yes (a $100 bet wins $190), while no began at -170 (must bet $170 to win $100). However, Canadian bettors thought those lines were ridiculous, and started to slam “no.”
Now, a $100 bet on “yes” would net $920, while you would have to wager $2,200 on “no” to even make $100. Just note, though, that the fine print states that the proposaI must take place on the field after the game.
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