Blackstone to Acquire Majority Stake in Jersey Mike's

Jersey Mike's Subs has announced that it will be acquired by Blackstone, a leading private equity firm, in a deal valued at approximately $8 billion, including debt. This partnership aims to accelerate Jersey Mike's expansion across the U.S. and enhance its technological investments. Founder and CEO Peter Cancro will retain a significant equity stake and continue to lead the company. The transaction is expected to be completed by early 2025, pending regulatory approvals. Jersey Mike's, which has grown to over 3,000 locations since its inception in 1956, is recognized for its high-quality submarine sandwiches. Cancro expressed confidence in Blackstone as a partner to further propel the brand's growth.