Jersey Mike’s, the rapidly increasing sandwich chain, is being acquired by the personal fairness agency Blackstone.
The transaction is “intended to help enable Jersey Mike’s to accelerate its expansion across and beyond the U.S. market,” the businesses mentioned Tuesday, in addition to support ongoing technological investments.
Below phrases of the settlement, Jersey Mike’s founder and CEO Peter Cancro will proceed to guide the enterprise and maintains a “important fairness stake” within the chain.
Blackstone and Jersey Mike’s didn’t instantly disclose monetary phrases of their Tuesday announcement. However The Wall Road Journal reported that the deal would worth Jersey Mike’s at round $8 billion, together with debt.
The transaction is anticipated to be accomplished in early 2025, topic to regulatory approvals and different closing situations.
