Blackstone buys Jersey Mike's sandwich chain

Published On Nov 19, 2024, 2:38 PM

Blackstone is acquiring a majority stake in Jersey Mike's Subs, valuing the sandwich chain at approximately $8 billion. The investment aims to accelerate Jersey Mike's expansion and technological advancements. Jersey Mike’s currently operates over 2,800 locations, with plans for nearly 300 more units. Blackstone's experience with high-growth franchises is expected to drive the growth of Jersey Mike's under the ongoing leadership of CEO Peter Cancro, who will retain significant equity in the company.

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The acquisition by Blackstone indicates strong confidence in the growth potential of Jersey Mike's. With the brand's expansion plans and investment in technology, this could lead to increased market share and revenue growth in the fast-casual restaurant sector. Given Blackstone’s history of enhancing portfolio companies, Jersey Mike's is likely to see positive developments that may result in a higher valuation in the coming quarters.

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