NJ Sandwich Chain Jersey Mike’s Subs SOLD. Here’s Why.

Jersey Mike’s Subs, the beloved sub sandwich chain that originated in New Jersey, has been sold, according to the Patch.

It was sold to Blackstone, a global investment firm, for around $8 billion, including the company’s debt.

Jersey Mike's Sold But NOT Closing

I know many were worried what would become of the chain, but don't freak out, Jersey Mike's is NOT going away.

The article says it was sold to help with Jersey Mike’s growth and expansion both here in the U.S. and internationally.

The deal is expected to close sometime in early 2025 and will help to bring big changes to the company in the future.

The sale was announced this week, but details have not been revealed yet.

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Sale meant to help Jersey Mike's expand worldwide

The new partnership is meant to help Jersey Mike’s continue to grow quickly, with a focus on expanding locations and using new technology.

Did you know that Jersey Mike’s started way back in 1956 as a small shop called Mike’s Subs in Point Pleasant, New Jersey?

Peter Cancro, now the CEO, was only 17 years old when he bought the business in 1975 with the help of his high school football coach.

Today, Jersey Mike’s Subs has over 3,000 locations across the U.S.

Cancro will stay on to lead the company, keeping a significant ownership stake.

He's excited about the future and says Jersey Mike’s is just getting started.

He believes with Blackstone’s help and expertise the company will soar to a new level.

Blackstone also acquired Tropical Smoothie Cafe

Blackstone also recently bought the Tropical Smoothie Café chain and will also help that brand reach even more customers.

READ MORE: Surprising Facts About Jersey Mike's

I'm relieved Jersey Mike's will be sticking around...I love the bowls.