Jersey Mike's Subs is a fast-casual sandwich franchise chain founded in 1956 in Point Pleasant, New Jersey, operating over 3,200 locations across the U.S. and Canada that serve fresh-sliced and fresh-grilled submarine sandwiches. The company operates as a franchisor, with individually owned and operated locations, and is backed by Blackstone, with ambitions to expand to 10,000 stores globally.
“It also should give a boost to the IPO prospects for Inspired Brands, the Roark Capital-backed parent company of Dunkin' Donuts, Arby's and Jimmy John's.”
“Jersey Mike's reports a $31 million net loss on $724 million in revenue for 2025, and had 3,300 stores through the end of March. The deal implies a $7.3 billion fully diluted valuation, or a $9.4 billion enterprise value with debt included.”
“While private-equity firms typically hold investments for much longer periods, [Blackstone] felt the business was already close to camera-ready when the firm bought it. It also wanted to take advantage of investors' voracious appetite for new stock offerings.”
AI-extracted from podcast / newsletter / paper summaries. May contain errors.