Blackstone Acquires Jersey Mike's Subs for $8 Billion

Blackstone's acquisition of Jersey Mike's aims to accelerate expansion and technological investment, valuing the sandwich chain at around $8 billion.

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Subway rival Jersey Mike’s Subs acquired by Blackstone in $8B deal

New York Post

Blackstone strikes $8 billion deal for sandwich chain Jersey Mike's Subs, Reuters reports

CNBC

Jersey Mike's sandwich chain is acquired by private equity firm Blackstone for $8 billion

Associated Press

Overview

A summary of the key points of this story verified across multiple sources.

Blackstone has announced its acquisition of Jersey Mike's Subs for approximately $8 billion, enhancing the sandwich chain's growth potential. The deal, expected to close in early 2025, will allow Jersey Mike's to expand its 3,000 locations further domestically and internationally. Founder Peter Cancro will retain a significant equity stake and continue leading the business. This acquisition follows Blackstone's growing investments in franchise operations and comes after Roark Capital's acquisition of rival Subway. Blackstone aims to leverage its expertise in boosting the success of franchise businesses to support Jersey Mike's future growth.

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