Jersey Mike's Subs Sold to Blackstone in $8 Billion Deal
Jersey Mike's Subs, a popular submarine sandwich franchise, has been acquired by the private equity firm Blackstone for $8 billion.
The deal, which was announced on July 20, 2022, is one of the largest private equity transactions in the restaurant industry in recent years.
Jersey Mike's Subs was founded in 1956 in Point Pleasant, New Jersey, and has since grown to over 2,000 locations in the United States.
The company is known for its fresh-sliced meats and cheeses, as well as its commitment to customer service.
Blackstone is a global private equity firm with over $750 billion in assets under management.
The firm has a track record of investing in successful restaurant chains, including Burger King and Taco Bell.
The acquisition of Jersey Mike's Subs is expected to help Blackstone expand its portfolio of restaurant investments.
It is also expected to provide Jersey Mike's Subs with the resources to continue its growth and expansion.
Here are some additional details about the deal:
- Blackstone will acquire all of the outstanding shares of Jersey Mike's Subs from its current owners.
- The deal is expected to close in the fourth quarter of 2022.
- Jersey Mike's Subs will continue to be led by its current management team.
- The company's headquarters will remain in Point Pleasant, New Jersey.
