The man who helped found one of the world’s largest sandwich companies has died, Subway confirmed Friday.
Peter Buck, the 90-year-old man who helped fund the first Subway alongside businessman Fred DeLuca, died Thursday at Danbury Hospital in Connecticut.
“We are deeply saddened by the passing of one of Subway’s founders, Dr. Peter Buck,” Subway Chief Executive John Chidsey said in a statement to the Washington Examiner. “He was a shining example of a dedicated, hands-on leader and an integral member of the Subway family.”
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Originally a nuclear physicist, Buck loaned $1,000 to DeLuca in 1965 and encouraged him to open a sandwich shop to help pay for college. While the initial shop, named “Pete’s Super Submarines,” struggled financially, the pair would eventually begin to franchise outward and pursue business full-time. By 1973, they had 16 stores across Connecticut.
The Subway franchise has expanded exponentially since, reaching around 42,000 stores worldwide in 2020.
Buck was also involved in several philanthropic efforts. He founded the Peter and Carmen Lucia Buck Foundation in 1999, which has provided hundreds of organizations with funding, including the Internet Archive.
The businessman also owned 1.2 million acres of timberland in Maine.
Buck leaves behind his sons Christopher and William, daughters-in-law April and Hara, and grandchildren Sam, Emily, Oliver, Simon, and James.
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Buck’s net worth is estimated to be $1.7 billion, according to Forbes.
DeLuca died in 2015 of leukemia. He was 67.
