Blackstone Acquires Majority Stake In Jersey Mike's For $8 Billion With IPO Planned

Jersey Mike’s has filed confidentially for an IPO after Blackstone acquired a majority stake in the sandwich chain for $8 billion in January 2025. The IPO could raise more than $1 billion at a valuation exceeding $12 billion. The offering is led by Morgan Stanley, JPMorgan, and Jefferies.

Summary of transaction details:

• Deal Type: IPO
• Transaction Amount: $1,000,000,000
• Headquarters: Manasquan, New Jersey
• Revenue: $309.8 million in 2025
• Current Bonds Issued: $760 million
• Projected Locations: 8,000
• Franchise Locations: 3,000+

Former Wingstop CEO Charlie Morrison, who joined Jersey Mike’s in 2025, is leading the growth strategy. The company aims to expand its franchise-heavy model both domestically and into new international markets. Blackstone is positioning itself to benefit from what could be a notable consumer IPO this year.