Sandwich creator Jersey Mike’s Subs is thinking about selling its business to financial services firm Blackstone.
The Wall Street Journal, citing unnamed sources, reports that the privately-held company has held periodic discussions with Blackstone. Should a deal happen, it would put Jersey Mike’s valuation at $8 billion. But the sandwich chain still may not go through with the deal, The Journal reports.
Jersey Mike’s Subs has come a long way from its 1956 opening in Point Pleasant, New Jersey, nestled on the Jersey Shore. The submarine sandwich chain today has over 2,800 locations that are open or under development.
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