Jersey Mike's Completes $1 Billion IPO with Valuation of $7.3 Billion
Jersey Mike's Subs completed a landmark initial public offering (IPO), raising over $1 billion by pricing its shares at $23 each, giving the company a valuation of $7.3 billion. The chain began trading on the New York Stock Exchange under the ticker symbol JMKE in July 2026. This follows Blackstone's acquisition of Jersey Mike's for $6.3 billion in January 2025. The IPO marks a significant milestone less than two years after its private equity takeover and is seen as well oversubscribed, reflecting strong investor interest. Founder Peter Cancro remains involved as a major shareholder and operator in the UK and Ireland, where he envisions expanding to 300 units. Charlie Morrison, former CEO of Wingstop during its IPO, now leads Jersey Mike's. With approximately 3,300 locations across North America generating $4.3 billion in system sales, Jersey Mike's has an average unit volume nearly triple that of Subway. The company aims to expand domestically and globally, targeting a total of 15,000 units.
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Topics: Blackstone franchising IPO Jersey Mike's