Blackstone Nears $2.2 Billion Deal for Jersey Mike's Subs

Private equity giant Blackstone is reportedly in advanced talks to acquire Jersey Mike's Subs for $2.2 billion.

The deal, which could be announced as soon as this week, would be one of the largest private equity transactions in the restaurant industry in recent years.

Jersey Mike's is a fast-casual submarine sandwich chain with over 2,000 locations in the United States. The company has been growing rapidly in recent years, and its sales are expected to exceed $2 billion in 2023.

Blackstone is a global investment firm with over $900 billion in assets under management. The firm has been investing in the restaurant industry for many years, and it currently owns a number of restaurant chains, including Burger King and Popeyes.

The acquisition of Jersey Mike's would be a major coup for Blackstone. The company is a well-respected brand with a strong track record of growth. The deal would also give Blackstone a significant presence in the fast-casual restaurant segment, which is one of the fastest-growing segments of the restaurant industry.

The deal is expected to close in the coming weeks. Once the deal is complete, Blackstone will become the majority owner of Jersey Mike's. The company's founder, Peter Cancro, will remain a significant shareholder and will continue to serve as CEO.