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.
Robert F. Kennedy’s Wife Ethel Dies—Shocking Cause of Death Exposed
Ethel Kennedy, a leading advocate for social justice, has passed away at 96, as her family shared through heartfelt social media posts.
Ethel, the widow of Robert F. Kennedy, died in Boston surrounded by family. Her death closes a life marked by activism, strength, and a deep love for her family.
Her grandson, Joe Kennedy III, announced on Twitter, “She died this morning from complications related to a stroke suffered last week.” Ethel is survived by nine children, 34 grandchildren, and 24 great-grandchildren.
Joe said his grandmother was a devout Catholic and found peace in believing she is now with her late husband Robert, her sons David and Michael, daughter-in-law Mary, and grandchildren Maeve and Saoirse, along with great-grandchildren Gideon and Josie.
Her son, Robert Kennedy Jr., also shared his grief on social media, mentioning his mother’s lively personality, saying, “She never lost her fun, humor, and spark.”
Many tributes followed, celebrating Ethel’s extraordinary life. Her niece, Maria Shriver, said, “What a life she led. What a huge family she leaves behind. I’m glad I could laugh with her this summer and share memories.”
Robert Kennedy Jr. shared that his mother, Ethel, often spoke with excitement about reuniting with loved ones who had passed, including her 16 Irish setters, all named “Rusty.”
Tributes continued to pour in, honoring Ethel’s life. Her niece, Maria Shriver, posted a touching message, saying, “What a life she led. What a huge family she created and leaves behind. I’m so glad I could laugh with her this summer and share memories.”
Maria also praised Ethel’s character, calling her fearless, funny, smart, a great athlete, and deeply patriotic. She mentioned how deeply Ethel loved her husband, Robert, who Maria affectionately called “Uncle Bobby.”
Maria highlighted Ethel’s strong faith, adding, “During the tough times, and there were many, she leaned on her faith, just like my own mother.”
After Maria’s tribute, Ethel’s granddaughter, Michaela Kennedy Cuomo, posted a touching photo on her Instagram Story. The image showed her hand holding Ethel’s, which was adorned with a large diamond ring. Set to Taylor Swift’s song “Starlight,” the picture reflected their closeness during Ethel’s final moments.
Former U.S. President Bill Clinton also expressed his and Hillary’s condolences. He honored Ethel’s long and impactful life, calling her a “fierce fighter for justice and equality, a warm, wonderful woman, a great mother, and a dear friend.”
Bill fondly remembered Ethel for her personal touch, noting that she sent the “best Valentine’s Day cards ever” to their family. He added, “Hillary and I loved her very much and will always cherish the friendship, kindness, and support she gave us over the years.”
Ethel was born on April 11, 1928, to a wealthy family in Chicago. Her father, George Skakel, built a successful coal business, and the family eventually moved to a large estate in Greenwich, Connecticut, where Ethel grew up with her six siblings.
Ethel Kennedy attended several prestigious schools, starting with the all-girls Greenwich Academy in Connecticut, followed by the Convent of the Sacred Heart in the Bronx, and then Manhattanville College of the Sacred Heart. It was at college where she met Jean Kennedy, and they became close friends and roommates. This friendship would eventually change her life forever.
In 1945, at the age of 17, Ethel met Jean’s brother, Robert Kennedy, during a skiing trip at Mount Tremblant Resort in Quebec, Canada. At that time, Robert was dating Ethel’s sister, Patricia Skakel. After that relationship ended, Ethel and Robert began dating, marking the start of their lifelong partnership.
Ethel’s involvement in public life went beyond her marriage to Robert. She became well-known for her strong support of John F. Kennedy’s presidential campaign and later, her husband’s successful run for a U.S. Senate seat representing New York.
Ethel Kennedy’s impact was vast, as seen in the numerous tributes and birthday wishes from family and friends. Throughout her 96 years, she was known not only for her strong humanitarian work but also for the deep love she had for those around her. Ethel will be remembered for her enduring legacy of fighting for social justice and her dedication to family. Her compassion, strength, and warm spirit touched countless lives, leaving behind an extraordinary legacy that will continue to inspire future generations.
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