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Subway: Co-founder of sandwich chain DeLuca dead at 67

DeLuca's death came weeks after the company celebrated its 50th anniversary.

Fred DeLuca, President and founder of sandwich maker Subway, smiles during an interview in a Subway restaurant at "Solna Centrum" in Stockholm on March 10, 2011. The self-made billionaire who heads up sandwich maker Subway, now the world's largest fast food chain in terms of restaurants, never thought his operation would become bigger than McDonald's. "It was just a way to pay my way through college," Fred DeLuca, who started his business at age 17, told AFP at a newly opened restaurant in Stockholm on March 10. AFP PHOTO/JONATHAN NACKSTRAND (Photo credit should read JONATHAN NACKSTRAND/AFP/Getty Images)

NEW YORK (AP) - Subway says its co-founder Fred DeLuca died Monday evening after being diagnosed with leukemia two years ago, He was 67.

DeLuca's death came weeks after the company celebrated its 50th anniversary.

DeLuca decided to open a sandwich shop to help pay for college after graduating high school. The idea came from a family friend, Peter Buck, who was his co-founder and provided the $1,000 to start the business.

Subway, based in Milford, Connecticut, said in July 2013 that DeLuca was diagnosed with leukemia. It said that DeLuca was in regular contact with his management team, but on a reduced basis as he received treatment.

DeLuca is survived by his wife, sister and son, according to Subway.