Jersey Mike's chain acquired by private equity firm Blackstone for $8 billion

The deal, valued at around $8 billion, aims to accelerate Jersey Mike's expansion and support ongoing technological investments, with Blackstone's private equity funds as the driving force.

Founder and CEO Peter Cancro emphasized the potential for growth, stating, "We believe we are still in the early innings of Jersey Mike's growth story and that Blackstone is the right partner to help us reach even greater heights."

Blackstone will acquire majority ownership of Jersey Mike's but will allow Cancro to maintain a significant equity stake and continue leading the business.

Jersey Mike's has expanded its locations significantly, growing from 857 stores in 2014 to over 2,800 this year, showcasing its rapid growth trajectory.

Read at www.ocregister.com