Jersey Mike's Partners with Blackstone for Majority Stake Acquisition

In a significant move within the fast-casual dining sector, Jersey Mike's Subs has entered a partnership agreement whereby private equity funds managed by Blackstone will acquire a majority ownership stake in the company. Jersey Mike's, recognized as a leading franchisor of submarine sandwich stores across the United States, seeks to bolster its growth potential through this strategic partnership. Jersey Mike's founder and CEO, Peter Cancro, will continue to lead the company and maintain a notable equity share, ensuring leadership continuity. The transaction is scheduled for completion in early 2025, following the fulfillment of closing conditions and regulatory approvals. White & Case LLP, a global law firm, served as the legal advisor for Jersey Mike's, with key personnel involved in the transaction spread across major locations like New York and Chicago.