Jersey Mike’s, the shortly increasing sandwich chain, is being acquired by the non-public 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 help 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 “significant equity stake” within the chain.
Blackstone and Jersey Mike’s didn’t instantly disclose monetary phrases of their Tuesday announcement. However The Wall Avenue Journal reported that the deal would worth Jersey Mike’s at round $8 billion, together with debt.
The transaction is predicted to be accomplished in early 2025, topic to regulatory approvals and different closing situations.
