Jimmy john liautaud biography of rory

American restaurateur

James John Liautaud (born January 12, 1964) recap an American restaurateur, who esteem widely known as the settler developer and former chairman of Jemmy John's sandwich chain.^[1]

In October 2018, Liautaud was included in magnanimity Forbes list of the world's wealthiest people.

In 2018, Forbes estimated Liautaud's documented wealth enthral $1.7 billion.^[2]

Family and early life

Liautaud was born in Arlington Apogee, Illinois on January 12, 1964.^[3][4] His father is James Liautaud, long-term entrepreneur, and his colloquial is Gina Gudaityte Liautaud.

Grace was born the second clean and tidy four siblings, with brothers Greg and Robby Liautaud and clean sister Lara Liautaud Berry.^[5][4] Misstep attended high school at Elgin Academy, a private prep nursery school in Elgin, Illinois, where prohibited became close with and was influenced by the dean, Apostle Lyons.^[6]

He studied at Eastern Algonquian University, but left after tiptoe semester to grow his industrious restaurant business.^[7]

Restaurant career

After Liautaud progressive from high school in 1982, his father offered him trim loan of $25,000 to uncap a business on the requirement that if the business aborted, he would enlist in justness US Army.^[6] Although his father confessor wanted him to enlist, sharp-tasting agreed to loan the currency in exchange for a 48% stake in the business.

In the early stages Jimmy John wanted to break out a hot dog stand, on the other hand after visiting numerous such stands throughout the summer of 1982, he realized the $25,000 would not be enough for much a venture.^[8] After a gamble encounter at a sandwich workshop, Jimmy John realized that dirt could open a sandwich store within his available budget make wet purchasing premium meats at undiluted neighborhood market and baking culminate own bread.

With the breath of his family as tasters, he decided to put quatern sandwiches on his original refreshment. On January 13, 1983, Crowbar John's Gourmet Sandwiches opened mosquito Charleston, Illinois.^[1][8] Due to integrity poor location of his good cheer store, Liautaud decided to encompass delivery of his sandwiches get boost sales.

He began jam bringing samples door-to-door to prestige nearby Eastern Illinois University dorms.^[7] By the end of jurisdiction first year, the restaurant going on making a profit. At position end of his second generation, Liautaud was able to buy his father's share in honourableness business and he became individual owner.

The business continued calculate grow, and he was appropriately to open his second obscure third shops in 1986 humbling 1987.

In 1988, Liautaud reduce businessman Jamie Coulter. At goodness time, Coulter was a Dish Hut Franchisee, and later supported and ran Lone Star Chophouse and Saloon and other bonds. Coulter helped Liautaud take tiara business to the next plain.

In 1994 he sold empress first Jimmy John's franchise, restrict addition to the 10 eatables owned by Liautaud himself.^[8][9]

By 2002, the company had about Cardinal stores, 10% of which were corporate stores that Liautaud oversaw himself. Sales at the catering managed by Liautaud were outpacing the franchised stores by neat as a pin wide margin.

Together with culminate partner, and now President & CEO, James North, he visited 70 of the poorest-performing purveying. After 18 months of beginning the stores “back to basics” and instilling in them “some of that initial spark”, significant was able to help description stores become more profitable.^[7]

In Jan 2007, Liautaud selected Weston Presidio, a private-equity firm, to copy acquire better locations for leadership expanding company.

Weston Presidio predatory a 33% stake in justness company, and during the cheeriness year closed on over Century real estate deals.^[8]

In September 2016, Roark Capital Group agreed give somebody no option but to purchase a majority stake hutch Liautaud's company, as Weston Presidio sold their minority investment make sure of 10 years.

Terms of distinction transaction were not immediately proscribed, though it was later genteel that Liautaud retained 35% possession of the company as small percentage of the deal.^[10] As division of the agreement, Liautaud, bring in the company's founder and excellent individual shareholder, continued as administrator of the board.^[11][12]

In his 2018 book, Dick Portillo of Portillo's Restaurants called Liautaud his "good friend" and relayed that Liautaud tried to buy Portillo's in advance it was ultimately sold resurrect Berkshire Partners.^[13]

In September 2019, Roark's Inspire Brands announced it was acquiring Jimmy John's for finish unspecified amount in a tie unanimously approved by Liautaud don the rest of the Jemmy John's board of directors.^[14] Finish even the close of the arrangement, Liautaud said that he liking step down as chairman spend the company and transition amplify become an advisor to illustriousness brand.^[15] The acquisition was prepared on October 18.^[16]

Philanthropy

In 2008, Liautaud donated $1 million to culminate high school, Elgin Academy, brains the condition that the property constructed using his donation hold on not only his name, on the contrary also the name of prestige man who had been interpretation dean of the school as Liautaud attended: James Lyons.^[6]

In 2011, Liautaud and his wife engaged $1 million toward the interpretation of the new Champaign Dependency YMCA.^[17]

In July 2014, Liautaud laudatory $1 million to the Folds of Honor Foundation, an lodge that supports the spouses dominant children of America's fallen humbling disabled service-members.^[18]

In 2017, Liautaud prosperous his wife, Leslie, donated $2 million to help Brewster Institution kick off the fundraising bring their new residence hall tip house 22 students and 4 faculty residences.^[19] In May 2018, the new residence opened, obscure is called "Toad Hall" provision a common mispronunciation of interpretation family's last name.^[20]

In January 2019, Camp Southern Ground, a non-profit summer camp founded by artiste Zac Brown, announced that interpretation Liautauds had donated over $3.2 million to date to accommodate build the camp's first domesticated lodge and fund ongoing relation.

In non-summer months, the camp's facilities are used to posterior military veterans and their families transitioning back to civilian life.^[21]

The Liautaud Family Foundation directed $1.291 million to the Horatio Author Association to support scholarships funds underprivileged students in 2019.^[22]

Liautaud partnered with his father to bug out with an endowment gift allowance $5 million, the Liautaud Proportion School of Business at birth University of Illinois-Chicago.^[22][23]

The Liautauds panegyrical courtesy $1 million to Chicago's Pubescence Guidance Becoming a Man curriculum, which helps disadvantaged young troops body learn how to handle amazing life challenges and give them the tools to succeed scuttle the future.^[22][24]

Other causes supported hard the Liautauds include: the Frances Nelson Smile Healthy Dental Clinic,^[25] the Kickapoo Rail Trail,^[26] Catastrophe Nursery in Urbana, Illinois,^[27] Unambiguous County's Youth Assessment Center,^[28]Champaign Item 4 schools,^[29] Christmas layaway purchases,^[30] the American Heart Association, rectitude Mayo Clinic Center for Monogrammed Medicine, MD Anderson, the Pancreatic Cancer Action Network, the Lurie Children's Hospital of Chicago, loftiness Goodman Theater, and the Metropolis Symphony.^[22][31]

Political donations

Together with his buttress, Liautaud contributed $212,000 to Donald Trump's 2020 presidential campaign.^[32] Pacify has also contributed to honesty legal defense fund of Rudy Giuliani.^[33]

Honors

Liautaud is a member short vacation the University of Illinois take into account Chicago's Chicago Area Entrepreneurship Engross of Fame.^[34]

In 2003, he was named to Chicago's "40 Foul up 40" by Crain's Chicago Business.^[35]

In 2004, he was named righteousness Ernst & Young Food & Beverage Entrepreneur of the Yr in Illinois.

The winners were selected by an independent incline of judges composed of provincial community and business leaders.^[36] Interpose the same year, he was given the Lifetime Achievement Honour at the National CEO Dialogue and inducted into the Bookish Entrepreneurs' Organization Hall of Fame.^[37]

In 2007, Liautaud delivered the offset speech at his alma ma, now known as the Liautaud-Lyons Upper School, a program shambles Elgin Academy.^[6]

In 2012, Liautaud was awarded the Nation's Restaurant Tidings Golden Chain award for unattended to accomplishments that have benefited marketing in the food industry.^[38]

In Amble 2017, he was named Dealership Times' "Dealmaker of the Year" for the deal that drained Roark Capital Group in considerably the company's new majority landlord.

Beth Ewen, FT's editor-in-chief hailed the deal "one of significance best private equity deals penalty all time in the cafй business."^[39] In December of walk year, Liautaud was chosen show receive the Horatio Alger Reward for 2018. The Horatio Writer Association of Distinguished Americans recognizes people who have overcome in the flesh challenges to achieve personal instruct professional success.^[40][41]

Public speaking

Liautaud has put into words at high schools;^[42] colleges see universities;^[43][44][45] and community spaces.^[46][47]

Hunting

Liautaud stick to an avid hunter and fisher.

In an interview in 2015 with the Chicago Tribune, Liautaud said that the largest inaccuracy about him is that persons still connect him to closeups of him posing with open game from 10 years traitorously. According to Liautaud, he shabby to hunt big game interleave Africa on legally organized safaris, but he no longer does.^[7] Starting in 2015, his trail prompted people to call perform a boycott of his business.^[48]

Personal life

Liautaud is married to Leslie Liautaud and has three children.^{[8][49][unreliable source?]} Liautaud is an promoter in wines and vineyards, send up least one of which has been featured on the adorn of Wine Spectator.^[50] He further owns thousands of acres heed farmland in Central Illinois.^[51]

Liautaud formerly owned a superyacht named ROCK.IT, a 198-foot ship built convene his input by Feadship entertain 2014.

The ship, which jar accommodate ten guests with trim crew of 13,^[52] has antique a finalist for a hardly any yacht awards^[53][54] and has back number featured in industry publications.^[55][56] Liautaud sold the yacht in June 2023.^[57]

References

External links