Arby's co-founder Leroy Raffel dies at 96 [Fortune]
McDonald's Corporation (MCD)
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Source: Fortune
The restaurant announced Raffel's death on its Facebook page Thursday, saying “We remain honored to carry on the legacy that Leroy and his brother Forrest created. May his memory be a blessing.” The Raffel brothers (who cheekily named their restaurant after their initials – RB) opened their first store in Boardman, Ohio. It had just 10 seats and 20 parking spots and stood out from the many hamburger chains by focusing instead on roast beef sandwiches. “On the day we opened, the McDonald's hamburger was 15 cents and our sandwich was 69 cents. So you had to be a little more affluent to buy our sandwich,” he told Ohio TV station WFMJ in 2014. Within 12 years, the brothers sold the chain, which by then had 400 locations, to Royal Crown Cola. The company has since gone through many owners and had its share of ups and downs. Wendy's, at one point, owned the brand, selling it to Roark Capital in 2011. Roark is the majority owner of Inspire Brands, which oversees Arby's today, along wi
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