Jersey Mike's Has Been Sold — Change Is Coming!

21 November 2024

One of America’s largest sandwich chains, Jersey Mike’s, has just been sold.

Blackstone Inc., a private equity firm, has acquired the chain for a whopping $8 billion, according to reports from the Wall Street Journal.

The major sale is “intended to help enable Jersey Mike’s to accelerate its expansion across and beyond the U.S. market as well as its continued investment in technology and digital transformation,” the brand says.

But change is coming — and it’s a good thing.

The chain is expanding, so you will likely see even more locations pop up across the U.S. — they are also looking to expand globally!

Jersey Mike’s is also looking to improve their digital footprint through the use of newly-acquired technology to make the customer experience even better.

Here’s the cool part: The original owner/creator of Jersey Mike’s, Peter Cancro, will keep a significant equity stake and continue to lead the business. Cancro started working there when he was just 14, when it was just Mike’s Subs, in 1956.

Cancro later bought that location and began to franchise in 1987. In just over 30 years, Jersey Mike’s has grown to more than 3,000 locations, and they now want even more.

Look out, Subway, they are coming for you!

Blackstone Inc. also acquired Tropical Smoothie Café earlier this year for a smooth $2 billion. Now the firm can send their employees for lunch at Jersey Mike’s and then over to Tropical Smoothie for a dessert.

23 Country Stars With Their Own Bars + Restaurants

Of all of the side hustles country artists could partake in, opening a bar or restaurant is the most fitting — and very common. After all, many of these stars got their start on a barstool, tip jar nearby, playing their music for anyone who would listen.

These places feel like home for many of these singers. Over the years, several artists have gotten into the bar or restaurant game, and for a select few, brands have turned into franchises with several locations and/or concepts — we’re looking at you, Jimmy Buffett!

Let’s take a look at the country star food and entertainment venues that have opened over the years.

Gallery Credit: Jess