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Jersey Mike’s Subs Contemplates Sale to Blackstone
Sandwich creator Jersey Mike’s Subs is currently in talks with financial services firm Blackstone regarding a possible acquisition. The Wall Street Journal, citing anonymous sources, revealed that the privately-held company has engaged in intermittent discussions with Blackstone. If the deal materializes, it will result in Jersey Mike’s being valued at a substantial $8 billion. However, according to The Journal, there is still uncertainty over whether the sandwich chain will ultimately proceed with the agreement.
History and Growth of Jersey Mike’s Subs
Established in 1956 in Point Pleasant on the Jersey Shore, Jersey Mike’s Subs has undergone significant evolution since its inception. What began as a humble submarine sandwich shop has flourished into a franchise with over 2,800 operational outlets and others in various stages of development. This growth underscores the brand’s enduring appeal and the widespread recognition it has garnered over the years.
The potential sale to Blackstone represents a significant milestone for Jersey Mike’s Subs, signaling a new chapter in its corporate journey. As the discussions unfold, stakeholders eagerly await the outcome and assess the implications for the company’s future trajectory.
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