Have you caught wind of the latest buzz surrounding Jersey Mike’s potential sale?
Recent reports suggest that Jersey Mike’s, known as America’s fastest-growing sandwich chain, is contemplating a sale to private equity firm Blackstone, valuing the company at a substantial $8 billion. Discussions between the two parties have seen fluctuations but remain ongoing, indicating the company's openness to exploring a deal.
Despite challenges like the COVID-19 pandemic, Jersey Mike’s has maintained robust financial performance, with its average unit volume (AUV) currently exceeding $1.35 million, up from $824,000 in 2019. This growth is attributed to the company's unwavering commitment to quality, freshness, and personalized service, coupled with investments in employee compensation, development programs, and technological advancements.
Should a sale to Blackstone materialize, it would signify a significant transaction in the industry, potentially mirroring Subway's acquisition by Roark Capital last year for approximately $10 billion. Blackstone's involvement in the restaurant sector, coupled with Jersey Mike’s impressive growth trajectory, sets the stage for further expansion and success in the future.
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