NEW YORK – The Peter and Carmen Lucia Buck Foundation, Inc. (PCLB) will receive a bequest under the will of the late Peter Buck, PhD, of his 50% ownership of the Subway restaurant chain, the foundation said Jan. 30.
Dr. Buck, who died in 2021, and Fred DeLuca, who died in 2015, co-founded Subway and created the corporate organization, Doctor’s Associates, Inc., which owns Subway, in 1965.
Dr. Buck and his wife, the late Carmen Lucia Buck, founded the New York-based PCBL in 1999 as a private family foundation to manage their family’s philanthropic initiatives. The foundation supports organizations and provides grants, strategic guidance, professional connections and other forms of assistance. Christopher, Michael, Samuel and William Buck are all on the board of directors.
“This gift will allow the foundation to greatly expand its philanthropic endeavors and impact many more lives, especially our work to create educational opportunities for all students, work Dr. Buck cared so deeply about,” said Carrie Schindele, executive director of the PCLB.Subway now operates close to 37,000 restaurants in over 100 countries. A story in The Wall Street Journal earlier this year said Doctor’s Associates may be interested in selling Subway.