Reported 2 days ago
Jersey Mike's, the rapidly growing sandwich chain, has been acquired by private equity firm Blackstone for approximately $8 billion. The deal, aimed at accelerating Jersey Mike's expansion and enhancing its technological investments, is expected to close by early 2025, subject to regulatory approvals. Despite the acquisition, founder and CEO Peter Cancro will continue to lead the company and retains a significant equity stake. The chain has tripled its locations over the last decade and posted sales of $3.3 billion in 2023, benefitting from market share gains against competitors like Subway.
Source: YAHOO