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Jersey Mike’s Subs said Monday it confidentially filed for an initial public offering with the U.S. Securities and Exchange Commission.
Bloomberg reported the Jersey Mike’s IPO could come as early as the third quarter, with Morgan Stanley, JPMorgan Chase, and Jefferies Financial Group advising. People familiar said the company is eyeing a valuation above $12 billion and more than $1 billion in proceeds, figures that may change.
Blackstone bought a majority stake early last year for about $8 billion, including debt, and the chain now exceeds 3,000 locations. CNBC noted a successful IPO would be the first restaurant-chain debut since Black Rock Coffee Bar’s September listing. #jerseymikes #ipo #subsandwiches #finance #businessnews
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