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...Financial terms were not disclosed but the purchase price is understood to value Subway at about $9.6bn including debt. That would make it the third-biggest transaction in the restaurant industry....
...The secretive private equity group, which specialises in buying restaurants, had been competing for months with Sycamore Partners and TDR, among others, for the fast-food chain....
...The two businesses will have combined revenue of £490mn, and have 189 restaurants in the US and the UK and a total of nearly 600 restaurants across 44 countries including franchises....
...“The transaction is a major milestone in Subway’s multiyear transformation journey, combining Subway’s global presence and brand strength with Roark’s deep expertise in restaurant and franchise business...
...Fertitta, whose net worth Forbes estimates at about $9bn, is the owner of US basketball team the Houston Rockets, the Golden Nugget casino business and restaurant chain Landry’s....
...But the neighbourhood was traditionally the domain of German and central European immigrants whose namesake eateries (Heidelberg Restaurant, Budapest Café) and churches still dot First and Second Avenues...
...“If I can, I take the subway, but I’m usually carting around large [prints] so I’m usually driving.”...
...Maybe during the pandemic they rounded up all the real New Yorkers, and they’re keeping them in a disused subway station....
...And a court fight to start: A former top investment banker at Centerview Partners did not strike a valid agreement to become a full-fledged partner at the elite advisory firm during a restaurant meeting...
...While waiting, he got another ping; someone else had placed an order at the same restaurant and he was being offered that delivery too....
...But a subway ride costs eight cents, an upscale haircut around $8 and a lavish seven-course tasting menu comes to $50 a head. Change may be on its way....
...Even where it has a monopoly or duopoly position in ride-hailing, it is not clear that its service has clear cost/speed/comfort/convenience advantages over alternatives such as bicycles, buses, subways and...
...In 2017, Restaurant Brands bought Popeye’s Louisiana Kitchen for $1.8bn in cash to get into the chicken sandwich game. And in 2021, Restaurant Brands paid $1bn in cash for Firehouse Subs....
...I recently watched a young boy sitting bored at a table in a restaurant, clearly wanting to talk, being ignored by another child and two adults all staring at their screens....
...“The system is way better than I expected: quick, reliable, and there are loads of subway or ground train lines to navigate the city wherever you need.”...
...The number of Uber trips in the fourth quarter surged 24 per cent to 2.6bn, while adjusted profit margins for both the ride-hailing and the restaurant, grocery and retail delivery businesses improved year...
...fallout eases (FT) Betting group Flutter proposes moving listing from UK to New York (FT) Arc’teryx apparel maker Amer Sports considers IPO price below range (FT) Private equity firm McWin buys €80mn restaurant...
...Bengaluru’s subway only opened in 2011, but it’s expanding fast. The city needs to construct almost immediately the local rail infrastructure that London built over nearly two centuries....
...Under chief executive Dara Khosrowshahi, Uber has pushed into businesses beyond its core ride-sharing and restaurant delivery segments, including grocery delivery and advertising, which has boosted margins...
...One nine-second clip, for example, features an empty McDonald’s restaurant, supposedly after all the employees had quit en masse....
...Fallout from the global financial crisis drove down activity at its customers such as restaurants and construction sites, and it lost business to fly-by-night competitors....
...The US corporation — owner of 41 other ski resorts — is acquiring 84 per cent of the lift and mountain operations, and 11 restaurants....
...Wilkinson contrasted that with what NCR is working on with its big customers: grocery stores, petrol stations and restaurants. “They are all very concerned about sustainability,” he said....
...Blue Apron, once a near $2bn US company, has been bought by mobile restaurant start-up Wonder Group for $103mn. That should unnerve investors in European rival Hello Fresh....
...Chang’s and business technology provider Computer Services Inc....
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