M&A Deal Summary

The Blackstone Group Acquires Jersey Mike s Subs

On November 19, 2024, private equity firm The Blackstone Group acquired franchising company Jersey Mike s Subs for 8.0B USD

Acquisition Highlights
  • This is The Blackstone Group’s 2nd transaction in the Franchising sector.
  • This is The Blackstone Group’s 21st largest (disclosed) transaction.
  • This is The Blackstone Group’s 216th transaction in the United States.
  • This is The Blackstone Group’s 9th transaction in New Jersey.

M&A Deal Summary

Date 2024-11-19
Target Jersey Mike s Subs
Sector Franchising
Buyer(s) The Blackstone Group
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 8.0B USD
Advisor(s) Guggenheim Securities
Morgan Stanley (Financial)
White & Case (Legal)

Target

Jersey Mike s Subs

Manasquan, New Jersey, United States
Jersey Mike’s Subs is a franchisor of sub sandwich restaurants. The company serves fresh sliced/fresh grilled subs on in-store freshly baked bread. Jersey Mike's Subs was founded in 1956 and is based in Manasquan, New Jersey.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 343 of 362
Sector: Franchising M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 78 of 81
State: New Jersey M&A 9 of 9
Country: United States M&A 216 of 230
Year: 2024 M&A 17 of 20
Size (of disclosed) 21 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-06 Retail Opportunity Investments

San Diego, California, United States

Retail Opportunity Investments is a fully integrated real estate company that intends to qualify as a REIT for U.S. federal income tax purposes. The company is focused on acquiring, owning, leasing, repositioning, and managing a diverse portfolio of necessity-based retail properties, including primarily well-located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. Retail Opportunity Investments is based in San Diego, California.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-27 JJ Tools

Seoul, South Korea

JJ Tools is a manufacturer of industrial cutting tools. JJ Tools was founded in 1997 and is based in Seoul, South Korea.

Buy -