Jersey Mike's Sandwich Chain Acquired by Private Equity Firm Blackstone for $8 Billion

Jersey Mike's, the popular submarine sandwich chain, has been acquired by private equity firm Blackstone for $8 billion. The deal is expected to close in the second half of 2023.

Blackstone is a global investment firm with over $950 billion in assets under management. The firm has a history of investing in consumer-facing businesses, including Hilton Worldwide, SeaWorld, and Merlin Entertainments.

Jersey Mike's is one of the fastest-growing fast-casual restaurant chains in the United States. The company has over 2,000 locations in 41 states. Jersey Mike's is known for its fresh, made-to-order sandwiches and its commitment to customer service.

The acquisition by Blackstone will provide Jersey Mike's with the resources to continue its growth. The company plans to use the capital to open new locations, expand its menu, and improve its technology.

Analysts say the deal is a sign of the strength of the fast-casual restaurant sector. Consumers are increasingly looking for convenient and affordable dining options, and Jersey Mike's is well-positioned to meet that demand.

The acquisition of Jersey Mike's is the latest in a string of deals in the restaurant industry. In recent months, private equity firms have also acquired Panera Bread, Popeyes Louisiana Kitchen, and Arby's.

The influx of private equity investment in the restaurant industry is a sign of the sector's growth potential. Private equity firms are attracted to the restaurant industry's predictable cash flows and the opportunity to improve operations and margins.

Here are some of the key takeaways from the acquisition of Jersey Mike's by Blackstone:

• The deal is a sign of the strength of the fast-casual restaurant sector.
• Private equity firms are increasingly investing in the restaurant industry.
• Jersey Mike's is well-positioned to continue its growth with the support of Blackstone.