Jersey Mike's Subs
Dining · 3,378+ locations · Nationwide (all 50 U.S. states), plus Canada
A sandwich chain built by a teenager who borrowed $125,000 to buy a Jersey Shore sub shop — until Blackstone took majority control in 2024 and took it public in 2026. The founder's family collected over $100 million in payouts, and Blackstone still holds most of the vote.
The Big Picture
Blackstone and an Abu Dhabi state fund control about 90% of the vote after the July 2026 IPO, leaving founder Peter Cancro at 10% while Cancro family members collected more than $100 million in one-time payments. Federal regulators cited the company for child-labor violations in 2022 and a Virginia franchisee in 2024. About 630 franchisees own nearly all 3,300 stores, but the company itself answers to Blackstone.
The Dirty Details
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Company data last updated September 2026
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