Blackstone to acquire a majority stake in Jersey Mike’s Subs.

Blackstone, an alternative investment management company, agreed to acquire a majority stake in Jersey Mike’s Subs, a franchisor of fast-casual submarine sandwich stores. Financial terms were not disclosed. “Jersey Mike’s has grown for more than half a century by maintaining an unrelenting focus on quality (and delicious sandwiches) – consistently building on its loyal customer base as it has scaled nationwide. Blackstone has deep experience helping accelerate the expansion of high-growth franchise businesses and this area is one of our highest-conviction investment themes. We are excited to partner with an entrepreneur of Peter’s caliber and the talented Jersey Mike’s team. Our capital and resources will help support key investments in growth and technology for the benefit of Jersey Mike’s customers and exceptional franchisees. I highly recommend the #13 Original Italian, Mike’s Way,” Peter Wallace, Blackstone Senior Managing Director.