Jersey Mike's Acquired by Blackstone — Consumer M&A

Blackstone has completed the acquisition of Jersey Mike's, a restaurant franchise business in the United States, for $8 billion. Jersey Mike’s operates sandwich restaurants and has expanded unit growth and average-unit volumes, gaining share from Subway across key markets. Blackstone acquires Jersey Mike’s as part of broader Blackstone acquisitions and consumer M&A, positioning the brand for a potential public listing. The other acquisition is reportedly being prepared for an IPO, with Morgan Stanley and JPMorgan Chase named as advisors, and a valuation cited up to $12 billion. The private equity acquisition follows Blackstone’s purchase of Jersey Mike’s in 2024, with an IPO timing discussed for the third quarter of 2026.