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.
Heartbreaking footage of an abandoned dog tied to a fence during Hurricane Milton has sparked outrage online
People are holding a dog owner accountable who left their pet alone right before Hurricane Milton made landfall. An officer responds to a distress call regarding a dog that is tied to a fence near I-75 in a widely shared video that was made public by the Florida Highway Patrol on October 8. In the video, the dog is seen standing in water up to its legs while the officer approaches with caution.
The video shows the kind officer telling the terrified dog, “It’s okay.” The dog starts off growling and barking, but the officer handles it calmly and says, “I don’t blame you,” understanding the animal’s apprehension. It’s alright. “FHP Troopers rescued a dog left tied to a pole on I-75 near Bruce B Downs Blvd this morning,” the Florida Highway Patrol Tampa later tweeted. Please, don’t do this to your dogs.
“The dog rescued by @FHPTampa is safe and receiving care,” the Florida Department of Highway Safety and Motor Vehicles announced after verifying the canine’s rescue a few hours later. After being examined by a veterinarian, the dog was given the all-clear. The idea to name the rescued dog “Trooper” in honor of the police officers who saved it has been floated around social media.
There has been a great deal of public outcry over the abandonment, with many people advocating for legal action against the owner and expressing disgust at their behavior. Among the remarks were, “This is absurd.” “Those who harm children and pets are the lowest in society and need to be dealt with accordingly,” and “The owner needs to face legal consequences.”
Regarding whether the dog’s owner has returned it, there have been varying accounts; however, the Florida Department of Highway Safety and Motor Vehicles has verified that these reports are untrue. “The dog was rescued and taken to a vet where he received a clean bill of health,” the spokesperson claimed. Right now, he is secure and receiving attention.
This incident emphasizes the importance of careful pet management, particularly in dangerous situations like hurricanes, as well as the necessity of providing immediate care for animals during catastrophes.
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