In a landmark deal, private equity firm Blackstone has announced its acquisition of Jersey Mike’s Subs for approximately $8 billion, according to Reuters. This move solidifies Blackstone’s ongoing interest in high-growth, fast-casual franchises and marks a pivotal moment for the beloved sub-shop chain.
Jersey Mike’s: Local favorite to national powerhouse
Jersey Mike’s Subs began in 1956 as a single neighborhood sandwich shop in Manasquan, New Jersey. It flourished under the leadership of Peter Cancro, who bought the original store at just 17 years old and transformed it into a nationwide franchise
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