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DeLuca's plan was to begin a "fast-food venture that provided a healthful, less fattening bill of fare". [4] On the radio advertisement they had promoted the name as "Pete's Submarines," which sounded like "Pizza Marines", so they changed the name to "Pete's Subway." Eventually in 1968, it was shortened to simply "Subway" as it is known today. [9]
Subway IP LLC, [8] trading as Subway, is an American multinational fast food restaurant franchise that specializes in submarine sandwiches (subs) and wraps. It was founded by Fred DeLuca and financed by Peter Buck in 1965 as Pete's Super Submarines [ 9 ] in Bridgeport, Connecticut .
Subway has a new owner: food behemoth Roark Capital. The deal closed on Thursday before market open. WSJ previously reported that the bid valued the sandwich chain for about $9.6 billion.
Inspire Brands LLC is an American fast-food restaurant franchise company. Owned by Roark Capital Group, it owns the Arby's, Buffalo Wild Wings, Sonic Drive-In, Jimmy John's, Mister Donut, Dunkin' Donuts, and Baskin-Robbins chains, which have a combined 31,700 locations and US$30 billion in system sales.
Subway CEO John Chidsey, who joined the company in 2019, said the deal reflects Subway’s long-term growth potential and the value of the brand. Sandwich chain Subway will be sold to fast-food ...
Analysts for Bloomberg blamed Subway's hardships on the rise of fast-casual dining options like Panera Bread.
Subway continued to grow over the ensuing years and by 2010 became the largest fast food chain worldwide, with 33,749 restaurants. [11] In 2015, Buck was ranked No. 261 on the Forbes 400 list of wealthiest people, with an estimated net worth of $1.6 billion.
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