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.
The Internet is losing it over this hidden leopard in the snow picture
Diverse forms of imagery captivate our appreciation, with the adage that a picture speaks a thousand words often holding true. The image we present below is a testament to this notion, encapsulating something deeply cherished, the remarkable abilities of animals.
When contemplating camouflage, the initial image that springs to mind is likely someone adorned in a camouflage outfit. Contrary to this common association, numerous animals possess an innate form of camouflage, allowing them to seamlessly blend into their surroundings. Despite being in plain sight, they remain elusive unless one possesses the keen eye to discern their presence.
Enter the leopard featured in the image below, devoid of any camouflage jacket or external concealment. Yet, upon first glance, the scene appears akin to any ordinary view within a National Park. A closer inspection, however, reveals the leopard masterfully concealed within the landscape. Perfectly blending with its surroundings, the leopard gazes back at the observer, camouflaged in plain sight.
As the image circulated online, it elicited astonishment from viewers discovering the hidden leopard. Initial assumptions often leaned towards a white leopard, but reality defied these expectations.
Leopards, akin to various creatures, possess this innate ability to vanish in plain view. This skill proves invaluable, facilitating their approach to prey for more frequent sustenance and shielding them from potential threats posed by other animals.
A challenge was issued on Reddit, beckoning users to uncover the concealed leopard. The online community erupted in a collective frenzy, with many still engrossed in the quest despite the post’s six-month existence.
Skeptics emerged, questioning the authenticity of the image, suspecting a potential trick of photography. In the spirit of transparency, we’ll guide you to the hidden leopard below, assuring you this is no photographic sleight of hand.
A word of caution before scrolling down: the leopard is indeed present, and its concealment is no optical illusion. Once spotted, however, you may find it impossible to overlook. Take a moment to seek it out independently before unveiling the answer below.
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