Blackstone buys Jersey Mike's sandwich chain

Acquisition Overview - Blackstone announced its acquisition of Jersey Mike's Subs, with the deal expected to close early next year [1][2] - The deal values Jersey Mike's at approximately $8 billion, including debt [3] Strategic Intent - The partnership aims to accelerate Jersey Mike's expansion in the U.S. and beyond, as well as enhance its technology and digital transformation efforts [4] - Blackstone's private equity strategy for individual investors will also be involved in the acquisition [4] Leadership and Growth Potential - Jersey Mike's CEO Peter Cancro will continue to lead the company and maintain a significant equity stake [5][6] - The company has over 2,800 locations, with nearly 300 more planned [7] Market Position and Performance - The average unit volume for traditional Jersey Mike's locations is reported at $1.3 million [11] - Blackstone has a history of investing in high-growth franchise businesses, indicating confidence in Jersey Mike's growth trajectory [8] Competitive Landscape - The acquisition comes amid other significant moves in the sandwich chain sector, including Subway's sale to Roark Capital [10]