Jersey Mike’s, the quickly expanding sandwich chain, is being acquired by the private equity firm Blackstone.
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FILE - A sign for The Blackstone Group L.P. investment firm stands in front of their offices, Oct. 15, 2018, in New York. – Jersey Mike's, the quickly expanding sandwich chain, is being acquired by the private equity firm Blackstone. The transaction is"intended to help enable Jersey Mike’s to accelerate its expansion across and beyond the U.S. market," the companies said Tuesday, as well as aid ongoing technological investments. Under terms of the agreement, Jersey Mike’s founder and CEO Peter Cancro will continue to lead the business and maintains a “significant equity stake" in the chain.Blackstone and Jersey Mike’s did not immediately disclose financial terms in their Tuesday announcement.
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