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Fred DeLuca was born in Brooklyn, New York, on October 3, 19
Transcript of Fred DeLuca was born in Brooklyn, New York, on October 3, 19
Fred DeLuca was born in Brooklyn, New York, on October 3, 1947. to Italian American parents Carmela and Salvatore DeLuca.
borrowed $1,000 to open a sandwich shop in Bridgeport, Conn., to help pay college expenses and parlayed that experience into building Subway, the world’s largest chain of fast-food franchises, died on Monday. He was 67.
DeLuca and Buck opened their first store in Bridgeport, Conn., under the name "Pete's Super Submarines," with the priciest sub selling for 69 cents. The name was changed to the snappier "Subway" in 1968, and the pair decided to fuel growth by franchising, or letting others open Subway stores in exchange for fees.
After his cancer diagnosis in 2013, the chain’s billionaire co-founder had stayed on as chief executive, saying last year he had no plans to retire and would remain “90 percent involved” in the chain’s day-to-day affairs.
His sister, Suzanne Greco, was named president in June and will now oversee day-to-day operations of the sandwich chain, which turned 50 this year. DeLuca, who grew up in public-housing projects in the Bronx and most recently lived in south Florida, leaves behind a wife and son.
At the age of 17, DeLuca approached a family friend, a nuclear engineer named Peter Buck, at a family picnic and asked for ideas on how to save money for college. Buck loaned him $1,000, which DeLuca used to open his Bridgeport, Conn., sandwich shop, then called Pete’s Super Submarines