Jersey Mike’s Subs Announces IPO on NYSE After Reporting $4.3B in System Sales
Renowned sandwich chain Jersey Mike’s Subs has officially submitted its documents to the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its Class A common stock. The filing, made on July 2, 2026, outlines the company’s plan to list on the New York Stock Exchange (NYSE) under the ticker symbol “JMKE.”
Backed by Blackstone, the chain — which was acquired by the private equity giant in late 2024 — is heading into the public markets with robust financial credentials. Jersey Mike’s reported a staggering $4.3 billion in total system sales in 2025, marking a 13% increase from the previous year. The company’s net income was $55 million, a significant leap from just $5 million in 2024. Currently, the chain operates almost 3,300 locations across the United States, with plans for over 1,600 additional sites in the pipeline.
According to Bloomberg, Blackstone is aiming for a $12 billion IPO valuation, potentially making it one of the largest restaurant industry IPOs ever by valuation. The company also reported a cumulative 50% same-store sales growth between 2020 and 2025, as per its SEC prospectus. The final offering price range and the number of shares are yet to be determined, pending SEC review.
The timing of the IPO aligns with a broader wave of market optimism, partly driven by the high-profile SpaceX public offering. Jersey Mike’s founder, Peter Cancro, retains a minority stake after selling approximately 90% of his share to Blackstone.
Source: Nation’s Restaurant News — Jersey Mike’s makes its IPO official