Jersey Mike’s Subs announced it has reached an agreement whereby private equity funds managed by Blackstone (BX) will acquire a majority ownership position in Jersey Mike’s. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. The partnership with Blackstone 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 transaction is expected to be completed in early 2025 subject to the satisfaction of certain closing conditions, including applicable regulatory approvals. Blackstone’s private equity strategy for individual investors is also expected to invest as part of the transaction.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BX:
- Blackstone near deal to acquire Jersey Mike’s, WSJ says
- Blackstone, partners weighing sale of software maker Diligent, Reuters reports
- Pinterest, Cisco upgraded: Wall Street’s top analyst calls
- Blackstone leads music ABS transaction for Hipgnosis
- Blackstone price target raised to $182 from $172 at Deutsche Bank