Jersey Mike’s Subs sells to Blackstone for $8 Billion, including the debt.
(StLouisRestaurantReview) Jersey Mike’s Subs has agreed to sell the company to Blackstone for $8B, which will include debt.
Blackstone will manage the sandwich chain’s expansion in the US as well as internationally.
Apparently, the negotiations between the parties have been taking place since 2021.
The agreement includes an earn-out agreement, which is contingent on Jersey Mike opening its 4,000th store, as reported by Reuters.
Cancro is the current CEO of Jersey Mike’s, which he purchased in 1975 and began franchising in 1987.
