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.
Neighbor Reports Family to Police Over Kids Using Trampoline, Parents Craft the Perfect Retort
Mrs. Whitaker, the always grumpy neighbor, had reached her limit when she called the police on Fred’s family because their kids were laughing. Fed up, Fred decided to confront her directly, leading to a neighborhood clash and an unexpected solution.
Living next to Mrs. Whitaker felt like living next to a ticking time bomb. She always found something to complain about, especially when it came to Fred’s family. To her, even the sound of children laughing was unbearable.
Fred and his wife, Laura, enjoyed spending time with their two kids, Danny and Emma, who loved to play outside, especially on their backyard trampoline. Their laughter brought joy to Fred, but to Mrs. Whitaker, it was like nails on a chalkboard.
Last week, it happened again. Fred was fixing a deck board when he heard a knock. He opened the door to find Officer Roberts, who had been called once more about the kids’ noise.
Officer Roberts, apologetic as always, walked around the yard, observing the children play. He sighed, knowing there was nothing wrong, but Fred was frustrated. This was about more than just a neighbor’s complaints; it was about their right to enjoy their home.
After talking with Laura about the situation, Fred decided it was time to take action. They brainstormed various ideas but ultimately agreed that Fred should confront Mrs. Whitaker directly.
When he knocked on her door, she immediately launched into an angry tirade, calling the kids wild and accusing Fred of being a terrible father. Shocked by her harsh words, he struggled to stay calm. He tried to explain that the children were just enjoying their childhood, but she insisted he needed to control them better.
Feeling infuriated, Fred returned home, where Laura was waiting. After hearing what Mrs. Whitaker had said, they both realized they couldn’t let her continue her behavior. They devised a plan: they would install a security camera aimed at her property and throw a loud party to show they wouldn’t be intimidated.
After setting up the camera, they invited all of Danny and Emma’s friends to what they called the “Noise-Maker Extravaganza”. By the time the party rolled around, over 20 kids were ready to have fun, and the backyard was transformed into a playground of joy.
On the day of the party, the laughter and excitement echoed throughout the neighborhood. Fred and Laura watched happily as the kids enjoyed the trampoline and water slide, knowing Mrs. Whitaker was likely seething behind her curtains.
As the noise escalated, Fred caught glimpses of Mrs. Whitaker glaring from her window. Feeling mischievous, he raised his drink in a playful toast to her. With that, she disappeared from view, clearly defeated.
After the party, life returned to normal. The security camera and bright light discouraged any further complaints from Mrs. Whitaker, allowing Fred’s family to enjoy their home without fear of interruptions.
One evening, Laura hugged Fred and smiled. They realized that sometimes, handling a difficult neighbor required a mix of cleverness and joy. They had reclaimed their home and happiness, reminding themselves that their family’s joy was worth fighting for.
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