Stock Market News

Blackstone nears deal for Jersey Mike’s Subs, source says

2024.11.18 20:45

(Reuters) – Buyout firm Blackstone (NYSE:) is nearing a deal for Jersey Mike’s Subs that would value the U.S. sandwich chain at around $8 billion, including debt, and could be announced as early as this week, a person familiar with the matter told Reuters on Monday.

The Wall Street Journal first reported the news earlier on Monday.

Blackstone and Jersey Mike’s did not immediately respond to Reuters’ request for comment.

Jersey Mike’s Sub, a fast casual sub sandwich franchise, operates over 2,800 locations.

In April, Blackstone agreed to buy Tropical Smoothie Cafe, marking its latest investment in a franchise business.

© Reuters. FILE PHOTO: Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo

Blackstone’s previous franchise deals include the 2007 acquisition of Hilton Hotels and its investment in Servpro, a franchise in the cleanup and emergency restoration industry.

Private equity firms have shown increasing interest in franchise operators. Last year, Roark Capital agreed to buy Subway, in a deal that people familiar with the matter told Reuters said valued the U.S. sandwich chain at up to $9.55 billion, including debt.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 91,514.52 0.88%
ethereum
Ethereum (ETH) $ 3,152.48 1.26%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 241.35 0.94%
bnb
BNB (BNB) $ 619.33 1.36%
xrp
XRP (XRP) $ 1.14 1.59%
dogecoin
Dogecoin (DOGE) $ 0.377389 1.38%
usd-coin
USDC (USDC) $ 1.00 0.06%
staked-ether
Lido Staked Ether (STETH) $ 3,150.62 1.19%
cardano
Cardano (ADA) $ 0.752535 2.00%
tron
TRON (TRX) $ 0.204849 0.79%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 0.38%
avalanche-2
Avalanche (AVAX) $ 35.28 0.79%
the-open-network
Toncoin (TON) $ 5.62 2.12%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,736.41 1.54%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 91,327.47 0.96%
sui
Sui (SUI) $ 3.74 3.37%
chainlink
Chainlink (LINK) $ 15.11 5.22%
weth
WETH (WETH) $ 3,150.27 1.27%
bitcoin-cash
Bitcoin Cash (BCH) $ 458.97 2.46%
pepe
Pepe (PEPE) $ 0.000021 3.02%
polkadot
Polkadot (DOT) $ 6.02 4.71%
near
NEAR Protocol (NEAR) $ 5.94 1.26%
leo-token
LEO Token (LEO) $ 7.77 0.84%
stellar
Stellar (XLM) $ 0.239044 11.17%
litecoin
Litecoin (LTC) $ 89.36 4.56%
aptos
Aptos (APT) $ 11.89 1.85%
hedera-hashgraph
Hedera (HBAR) $ 0.152645 32.10%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,320.76 1.47%
uniswap
Uniswap (UNI) $ 9.17 1.57%
usds
USDS (USDS) $ 0.99622 0.77%
crypto-com-chain
Cronos (CRO) $ 0.169046 3.63%
internet-computer
Internet Computer (ICP) $ 9.46 1.34%
kaspa
Kaspa (KAS) $ 0.177203 13.12%
ethereum-classic
Ethereum Classic (ETC) $ 26.60 0.46%
render-token
Render (RENDER) $ 7.52 2.28%
bonk
Bonk (BONK) $ 0.000051 2.13%
bittensor
Bittensor (TAO) $ 494.93 0.49%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.449691 7.78%
mantra-dao
MANTRA (OM) $ 3.88 10.17%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.33 1.46%
dogwifcoin
dogwifhat (WIF) $ 3.39 7.27%
dai
Dai (DAI) $ 1.00 0.10%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.10%
whitebit
WhiteBIT Coin (WBT) $ 22.16 0.08%
arbitrum
Arbitrum (ARB) $ 0.717116 4.22%
blockstack
Stacks (STX) $ 1.94 0.95%
monero
Monero (XMR) $ 156.53 1.82%
filecoin
Filecoin (FIL) $ 4.54 0.54%
vechain
VeChain (VET) $ 0.032946 6.24%