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.
JACK NICHOLSON HAS BEEN SEEN FOR THE FIRST TIME IN 2 YEARS AFTER FRIENDS VOICED FEARS
The three-time Oscar winner’s disheveled appearance comes after multiple reports suggested the star’s pals were concerned he would die alone, in a similar manner to his former next door neighbor and fellow screen legend Marlon Brando.
Nicholson, 85, is arguably La La Land’s most famous bachelor. He was married for four years prior to making it in Hollywood. His most famous romance with Angelica Houston ended nearly 25 years ago.
The Shining star was last seen in October 2021 alongside his doppelganger son, Ray, sitting courtside watching his beloved LA Lakers. Ray, 31, is one of the few people that Nicholson keeps in contact with, according to reports.
On Thursday, Nicholson was pictured enjoying the fresh air overlooking Franklin Canyon Reservoir. He wore a loose-fitting pale orange shirt and baggy sweatpants as he leaned up against a balcony railing on the crisp morning outing.
Jack Nicholson has been seen for the first time in 18 months, hanging out on the balcony of his Mullholland Drive compound in Beverly Hills The 85-year-old wore a loose fitting pale orange shirt and baggy sweatpants as he leaned up against a balcony railing on the crisp morning outing
Nicholson’s appearance comes months after multiple reports suggested The Shining star has become a recluse Nicholson took turns sitting and standing while enjoying the Los Angeles morning. In video exclusively obtained by DailyMail.com, birds could be heard chirping while he tapped on the balcony railings.
At one point, the One Flew Over the Cuckoo’s Nest star keenly observed a helicopter flying overhead.
He’s made it clear his home is his castle. But people just wish he’d come out of the house and pop up to tell them how — or at least reassure folks he’s OK,’ an unnamed friend told Radar Online in January.
‘Jack’s in touch with certain relatives — especially Ray, his protégé, who he’s so proud of — but his socializing days are long gone,’ they added. His last on-screen appearance came in 2010’s little known How Do You Know, starring alongside Owen Wilson and Reese Witherspoon.
The New Jersey-native has dodged rumors for years that he’s retired from acting as he is battling dementia and is unable to remember his lines.
In January, his unnamed friend told Radar that while Nicholson was in good shape physically, ‘his mind is gone.’
At one point, the One Flew Over the Cuckoo’s Nest keenly observed a helicopter flying overhead
In video exclusively obtained by DailyMail.com, birds could be heard chirping as Nicholson tapped on his balcony railings
The New Jersey-native has dodged rumors for years that he retired from acting as he is battling dementia and was unable to remember his lines
In January, his unnamed friend told Radar Online that while Nicholson was in good shape physically, ‘his mind is gone’
Shortly after those reports emerged, former Fox News host Bill O’Reilly said during an episode of his No Spin News broadcast that reports that Nicholson’s mental health had diminished were ‘bull.’
I visited Jack Nicholson a few months ago. I had a long conversation with him and he follows the No Spin News very closely and had all kinds of intelligent questions for me,’ O’Reilly said.
‘I have been friends with him for decades. He is 85, okay? But he is more intellectually nimble than the president of the United States,’ the former Inside Edition host continued.’ Despite his confirmed bachelor status, Nicholson has fathered six children by five different women.
Nicholson has been criticized for never acknowledging his paternity of his alleged daughter Tessa Gourin, who was born out of his brief affair with waitress Jeanine Gourin.
Nicholson’s compound on Mulholland Drive. The actor started buying the land around the home in the 1970s
Nicholson pictured in October 2019 with the NBA’s 75th anniversary basketball at the Staples Center
In February, Tessa, an aspiring actress, published an essay in Newsweek titled ‘I’m Jack Nicholson’s Daughter – I Wish People Could Call Me a Nepo Baby.’
‘Having grown up without my father, I’ve sat on the sidelines and watched in frustration as other celebrity children have seamlessly secured roles or been signed to huge agencies,’ she wrote. ‘More recently, I have grown even more frustrated at what I think is a missed opportunity for these so-called “nepo babies” to own their position and embrace it instead of complaining about it,’ Tessa continued. For nearly four decades, Jack believed that his mom was his sibling, until 1974, when Time magazine uncovered the truth and told him about its findings. While speaking to Patrick McGilligan for his biography, entitled Jack’s Life, the Shining star called it ‘the most f**ked thing he had ever heard.’ He also said the discovery was ‘dramatic’, but added that it ‘wasn’t’ something he’d ‘call traumatizing.’
The actor later told Rolling Stone, when asked about the shock revelation: ‘I was very impressed by their ability to keep the secret, if nothing else. It’s done great things for me.’
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