00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Jersey Mike's confidentially filed for an initial public offering on Monday, according to CNBC.
00:07This marks the first step toward becoming a publicly traded company after Blackstone acquired
00:12a majority stake in a deal that valued the chain at about $8 billion. The company appointed former
00:18Wingstop CEO Charlie Morrison after the deal closed. Jersey Mike's operates more than 3,000
00:23locations and ranks as the second largest hoagie chain in the U.S. behind Subway.
00:27The company reported $309.8 million in revenue in 2025, up 10.6 percent, and net income of
00:36$183.6 million, down from $238.8 million. Founder Peter Cancro built the chain from a Jersey Shore
00:45sandwich shop and later sold it to Blackstone. The confidential filing begins Jersey Mike's
00:50path to going public and could mark the first restaurant IPO since BlackRock Coffee Bar's
00:55September offering. For all things money, visit Benzinga.com.
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