Reported 2 days ago
Blackstone has reached an agreement to acquire the sandwich chain Jersey Mike's Subs for approximately $8 billion, including debt. This deal follows rising interest from private equity firms in franchise operators and is expected to close in early 2025. Jersey Mike's, known for its submarine sandwiches and founded in 1956, has over 3,000 locations. The deal will involve an earn-out agreement linked to the opening of the chain's 4,000th store. Jersey Mike's CEO, Peter Cancro, will retain an equity stake and continue to lead the business with Blackstone's backing.
Source: YAHOO