Jersey Mike’s employees may see a 200% bonus post-IPO — how majority shareholder Blackstone is sharing profits

Jersey Mike’s Subs completed its initial public offering on July 30, achieving a valuation of approximately $7 billion. The sandwich chain, which began as a single shop purchased by founder Peter Cancro at age 17 and has since expanded to nearly 3,300 locations, marked a significant milestone as the first publicly traded company to emerge from Blackstone’s broad-based employee ownership initiative.
Blackstone announced in May 2024 that all future U.S. private equity control investme