Who owns Subway? The company is privately held and ownership is not concentrated in the hands of a single person. The company was founded by Fred DeLuca and Peter Buck in 1965. However, after Fred DeLuca’s death in 2015, his sister, Suzanne Greco, took over as the CEO until she retired in 2018. Subway is now owned by the estate of Fred DeLuca and the family of Peter Buck through a company called Doctor’s Associates Inc. (DAI). The ownership details are private due to the company being privately held, so the exact shares held by each party are not publicly disclosed. Additionally, some shares may be held by investors, board members, or other key individuals involved in the organization, but specific ownership percentages are not published.
Subway is a privately held fast-food restaurant franchise that primarily sells submarine sandwiches and salads. The company was founded in 1965 by Fred DeLuca and Dr. Peter Buck as “Pete’s Super Submarines” in Bridgeport, Connecticut, and later changed its name to Subway in 1968. Fred DeLuca, who was just 17 years old at the time, borrowed $1,000 from Dr. Peter Buck, a family friend, to start the business. Their vision was to create a fast-food restaurant that offered a healthier alternative to traditional fast-food options.
The first store was a success, which led to the opening of more locations across the country, eventually turning Subway into one of the largest restaurant franchises globally. For decades, the ownership of Subway remained with the co-founders, Fred DeLuca and Dr. Peter Buck. However, in September 2015, Fred DeLuca passed away, and his sister, Suzanne Greco, took over as the CEO of the company. Dr. Peter Buck continued to be involved in the business.
In 2018, it was announced that Suzanne Greco would retire as the CEO, and Trevor Haynes was appointed as the interim CEO. John Chidsey was later appointed as the new CEO of Subway in November 2019. Although the CEO positions changed over time, the ownership primarily rests with the co-founder Dr. Peter Buck and the DeLuca family, including Fred DeLuca’s widow, Elisabeth DeLuca, who manages the DeLuca family’s shares in the company. Subway is known for its franchise model, where each location is independently owned and operated by the franchisees. The parent company, Doctor’s Associates Inc.
(DAI), does not own the restaurants but oversees the overall franchise operations, product development, and marketing support for its more than 40,000 outlets worldwide.
Who was the original founder?
Subway was originally founded by Fred DeLuca and Dr. Peter Buck in 1965. The company began as a single sandwich shop in Bridgeport, Connecticut, called “Pete’s Super Submarines.” The idea was to help Fred DeLuca pay for his college education in hopes of becoming a medical doctor. Dr.
Peter Buck provided Fred with a $1,000 loan to start the business. Fred DeLuca was born on October 3, 1947, in Brooklyn, New York. He grew up in a working-class family and was always ambitious and entrepreneurial. Before starting Subway, Fred had several small ventures, such as a paper route, mowing lawns, and operating a small sandwich and coffee shop with a friend.
In 1968, they changed the name of the business to “Subway” and began franchising in 1974 with the goal of expanding rapidly. Today, Subway is one of the largest fast-food chains with more than 40,000 locations in more than 100 countries. Fred DeLuca passed away on September 14, 2015, at the age of 67. At the time of his death, he was still the President and CEO of Subway.
Currently, the ownership of Subway is shared amongst members of the DeLuca family and other stakeholders.
FAQ: Who owns Subway
1. Who is the current owner of Subway?
The current owners of Subway are the co-founders Fred DeLuca’s estate and Peter Buck.
2. When was Subway founded?
Subway was founded on August 28, 1965.
3. How many Subway locations are there worldwide?
There are over 40,000 Subway locations in more than 100 countries worldwide.
4. Is Subway a privately-owned company?
Yes, Subway is a privately-owned company.
5. Who is the founder of Subway?
Subway was founded by Fred DeLuca and Peter Buck.
Sources for More Information
- Subway Official Website – FAQ
- Forbes – Subway’s Growth and Franchisees
- Investopedia – The Truth Behind Subway’s $5 Footlong
- Business Insider – Subway Franchise Problems