Blackstone Acquires Majority Stake in Jersey Mike's for $8 Billion

Jersey Mike's founder Peter Cancro retains a minority stake as the sandwich chain plans for further expansion.

The acquisition marks Blackstone's latest investment in a well-known brand, adding to its portfolio that includes Ancestry.com, Bumble, and Rover.
Jersey Mike's has experienced rapid growth, with annual sales increasing by over 20% on average in recent years, reaching nearly $4 billion in systemwide revenue in 2024.
Founder Peter Cancro, who will remain CEO, emphasizes Jersey Mike's unique approach of operating like local delis, contributing to its success as one of America's fastest-growing franchises.
The chain plans to expand significantly, with goals to open 5,000 more stores in five years and 300 locations in Canada over the next decade.
Jersey Mike's prides itself on community engagement and high-quality service, which has helped maintain a strong franchisee network and customer base.