Blackstone acquires Jersey Mike’s sandwich chain with plans to ‘speed up its enlargement’

Last updated: November 19, 2024 4:39 pm

1 month ago

Jersey Mike’s, the shortly increasing sandwich chain, is being acquired by the non-public fairness agency Blackstone.

The transaction is “meant to assist allow Jersey Mike’s to speed up its enlargement throughout and past the U.S. market,” the businesses stated Tuesday, in addition to support ongoing technological investments. Underneath phrases of the settlement, Jersey Mike’s founder and CEO Peter Cancro will proceed to steer the enterprise and maintains a “vital fairness stake” within the chain.

Blackstone and Jersey Mike’s didn’t instantly disclose monetary phrases of their Tuesday announcement. However The Wall Avenue Journal reported that the deal would worth Jersey Mike’s at round $8 billion, together with debt.

The transaction is predicted to be accomplished in early 2025, topic to regulatory approvals and different closing circumstances.

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