Overview
- Jersey Mike's disclosed Monday it filed a confidential IPO registration with the SEC, with the price range and share count not yet set.
- Bloomberg reports Morgan Stanley, JPMorgan and Jefferies are advising, with sources citing tentative goals above $12 billion in value and more than $1 billion raised that could change.
- The step follows Blackstone's majority buyout at about $8 billion more than a year ago and the appointment of former Wingstop chief Charlie Morrison as CEO.
- Franchise filings show 2025 revenue rose 10.6% to $309.8 million while net income fell to $183.6 million, and the chain has more than 3,000 U.S. locations, second to Subway.
- If the listing proceeds, it would be the first restaurant IPO since Black Rock Coffee Bar’s debut in September, in a market where timing and pricing remain uncertain.