Blackstone-Backed Jersey Mike's Subs Files Confidentially for IPO

Published: 2026-04-20 09:38:44 ET BX

Published on 04/20/2026 at 09:38 am EDT

By Colin Kellaher

Jersey Mike's Subs, the sandwich chain majority owned by private-equity giant Blackstone, is going public.

Jersey Mike's on Monday said it has confidentially submitted a draft registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering.

Blackstone in early 2025 completed the acquisition of majority stake in Jersey Mike's in a deal that valued the sandwich chain at around $8 billion, including debt.

Jersey Mike's founder Peter Cancro retained a roughly 10% stake in the chain, which has more than 3,200 locations and is the second largest sub-style sandwich company in the U.S. by sales, trailing only Subway.

The company in January struck a franchise agreement with JM Submarines, led by Cancro, to open 400 stores in the United Kingdom and Ireland.

Jersey Mike's said the number of shares it plans to offer and the price range for the proposed offering haven't yet been determined, adding that offering is subject to market conditions and completion of the SEC's review process.

The SEC's confidential IPO filing process lets regulators and companies to engage in a back-and-forth dialogue about disclosures as they wrap up the paperwork.

Write to Colin Kellaher at [email protected]

(END) Dow Jones Newswires

04-20-26 0937ET