Blackstone's sandwich chain brand Jersey Mike's Subs (JMKE.US) is applying for a US IPO, planning to raise approximately 1 billion US dollars.

Blackstone Inc. (Blackstone) supported sandwich franchise chain brand Jersey Mike's Subs (JMKE.US) has submitted its IPO filing to the U.S. Securities and Exchange Commission (SEC), planning to raise approximately $1 billion through the initial public offering (IPO). Jersey Mike's Subs is a fast-casual sandwich chain brand that specializes in freshly sliced meats and cheeses, daily in-store baked bread, and fresh ingredients prepared on-site (not pre-packaged). Currently, the brand has expanded to around 3,300 stores across the United States, with the majority operated by independent franchisees and a small number of company-owned stores. The company's revenue mainly comes from franchise royalties based on system-wide sales and shared advertising funds, with a small percentage from company-owned store sales. Additionally, Jersey Mike's has initiated international expansion, recently signing development agreements in the UK and Ireland markets. The company is headquartered in Totowa, New Jersey, with a history dating back to 1956. In the 12 months ending March 31, 2026, the company generated revenue of $714 million. Jersey Mike's plans to list on the New York Stock Exchange under the ticker symbol "JMKE." The company confidentially submitted its listing application on April 10, 2026. The joint bookrunners for this IPO include Morgan Stanley, Jefferies Financial Group Inc., JPMorgan, Barclays, Guggenheim Securities, Bank of America Securities, Goldman Sachs Group, Inc., Evercore ISI, UBS Group AG, Baird, Wells Fargo & Company Securities, William Blair, RBC Capital Markets, Deutsche Bank Aktiengesellschaft, WR Securities, Nomura Securities, Piper Sandler, Raymond James, Stifel, TD Securities, BTIG, Mizuho Securities, Societe Generale, and Truist Securities.