Jersey Mike’s Subs acquired by Blackstone in $8B deal
Blackstone announced Tuesday that it has agreed to buy Jersey Mike's Subs, valuing the company at about $8 billion, including debt, one person said. Reuters reported on Monday, citing people familiar with the matter, that Blackstone was nearing a deal with Jersey Mike's. The deal, expected to close in early 2025, highlights private equity (PE) […]
Blackstone to become majority owner of Jersey Mike’s
See what's being clicked on FoxBusiness.com. Blackstone announced Tuesday that it will acquire sandwich chain Jersey Mike's Subs. The asset management company said majority ownership would be purchased by a “state-of-the-art flagship private equity vehicle” and other funds it manages. Blackstone aims to complete the acquisition early next year. The deal values the company at […]
Wendy’s, Jersey Mike’s franchise owners slash hours, jobs to offset labor costs from California’s new $20 minimum wage
Wendy’s and Jersey Mike’s franchise owners in California have cut hours and staff to offset higher labor costs caused by the state’s new $20 minimum wage. Lawrence Chen, who owns seven Wendy’s franchises with his family in Southern California, said he has not only cut his hours but also helped fill shifts at his burger […]