Jersey Mike's Acquired by Blackstone
I lived off Jersey Mike’s in college, back when they were like a 2 shop operation. I had a Jersey Mike’s sandwich in the new EWR airport terminal this summer, the sandwich sucked.
Blackstone and Jersey Mike’s did not immediately disclose financial terms in their Tuesday announcement. But a source familiar with the matter confirmed to The Associated Press that the transaction would value Jersey Mike’s at around $8 billion, a figure previously reported by The Wall Street Journal.
The acquisition of the private company is expected to close in early 2025, subject to regulatory approvals and other closing conditions. Under terms of the agreement, Jersey Mike’s founder and CEO Peter Cancro will continue to lead the business and maintains a “significant equity stake” in the chain, the companies said. - via Audacy