Loading...
Market
Will Jersey Mike's achieve $5 billion in revenue by the end of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Jersey Mike's official financial statements or press releases
Story
Blackstone Buys Majority Stake in Jersey Mike’s for $8 Billion; CEO Cancro, Founder at 17, Retains Stake
Nov 19, 2024, 03:00 PM
Blackstone Group has struck a deal to acquire a majority stake in Jersey Mike's Subs, valuing the sandwich chain at approximately $8 billion, including debt. Peter Cancro, the billionaire CEO who purchased the original sub shop in 1975 at the age of 17 by borrowing $125,000, will maintain a significant equity stake and continue to lead the business. The transaction is intended to accelerate Jersey Mike's expansion across and beyond the U.S. market, as well as support ongoing technological investments. Jersey Mike's, currently the second-largest sub chain by sales with over 3,000 locations, has averaged 20% annual sales growth and is on track to achieve $4 billion in revenue this year.
View original story
Similar markets
Less than 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
More than 15% • 25%
Less than 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
More than 15% • 25%
Rebranding • 25%
New marketing campaigns • 25%
No significant change • 25%
Other branding changes • 25%
None • 25%
1 country • 25%
2 countries • 25%
3 or more countries • 25%
Significant growth • 25%
Moderate growth • 25%
No significant change • 25%
Decline in performance • 25%
