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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.
In 2023, it was announced that Buck had bequeathed his 50% stake in Subway to the foundation, a gift estimated to be worth approximately $5 billion based on Subway's potential sale value. [15] This donation is among the largest single contributions to a charitable foundation in a single year.
Fred DeLuca ran Subway as a family business, with his mother running the first shop, his sister working as a "sandwich artist" and even his wife Elisabeth worked in the corporate office. [13] Every Monday, Dr. Buck would visit the DeLuca household and visit Carmela and Fred to discuss the Subway business. [ 13 ]
It was a long road that led 'Undercover Boss' Don Fertman from singing as an orange Crayon in a pop band, to serving as the chief development officer of Subway, the 14 billion dollar sandwich ...
This undated photo provided by Subway, shows Peter Buck, co-founder of the Subway Sandwich chain. Buck, whose $1,000 investment in a family friend's Connecticut sandwich shop in 1965 provided the ...
Subway said Tuesday that it's exploring a possible sale of the sandwich company. Milford, Connecticut-based Subway has been privately owned since its founding in 1965. In a statement posted on its ...
It then grew to nearly 5,000 restaurants; by 2013, Quiznos was the second-largest submarine sandwich shop chain in North America, behind Subway. [5] It filed for bankruptcy in 2014; by 2016, it had dropped to ninth place, [ 6 ] and the number of Quiznos locations in the United States fell from a 2007 high of 4,700 to just 400 a decade later.
Subway currently controls about 23% of the $43 billion U.S. sandwich and deli market, according to Technomic, a consulting company. That's down from 34% in 2017.