Jersey Mike's made its public debut on Thursday at $21 per share, valuing the sandwich chain at $7.3 billion. The company, backed by Blackstone and the Abu Dhabi Investment Authority, offered more than 43 million shares and raised $913 million in its initial public offering, opening just below its IPO price of $23. Same-store sales grew by 50% between 2020 and 2025, and in 2025 systemwide sales increased 13% year over year to reach $4.3 billion, while sales growth for restaurants open at least a year rose 3%, marking nearly 20 consecutive years of positive growth. The chain, which franchises 99% of its roughly 3,300 US locations, plans to open 7,500 more domestic stores and has agreements for 300 stores in Canada by 2034 and an initial 300 stores in the UK and Ireland, with a long-term goal of approximately 15,000 global locations.
Blackstone Group IncBlackstone-backed Jersey Mike's IPO values the chain at $7.3B, providing a positive exit for the investment firm.
Wingstop IncJersey Mike's went public at $21 per share, raising $913M in its IPO.