NEW YORK — Jersey Mike’s, the rapidly growing sandwich franchise, is set to be acquired by the private equity firm Blackstone.
The companies announced on Tuesday that this acquisition aims to facilitate Jersey Mike’s expansion not only within the United States but also internationally, while also supporting ongoing investments in technology.

Jersey Mike’s founder and CEO, Peter Cancro, will continue at the helm of the company and will maintain a “significant equity stake” in the business following the acquisition.
Although specific financial details were not provided in the announcement, reports suggest that the deal could value Jersey Mike’s at approximately $8 billion, which takes into account its debt obligations.

The acquisition is anticipated to finalize in early 2025, pending necessary regulatory approvals and other conditions needed for closing the deal.