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.
When you come across white painted trees, it is important to understand their meaning
Whether you’re familiar with the concept or not, white-painted trees serve an interesting and practical purpose
Trees are particularly vulnerable to temperature changes in winter. During the day, the sun heats the bark, causing it to expand. When temperatures drop at night, the bark quickly contracts, which can lead to cracks and damage.
To mitigate this problem, trees are often painted white during the colder months. This white paint reflects sunlight, helping to regulate the temperature of the trunk and prevent it from becoming excessively hot during the day, reducing the risk of the bark cracking and damaging the tree.
This practice helps protect trees from sun damage and ensures they remain healthy during seasonal changes.
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