Blackstone-backed Jersey Mike’s targets $7.9bn valuation in US IPO

Jersey Mike’s Subs, backed by private equity giant Blackstone, is setting its sights on a $7.94 billion valuation in its upcoming US IPO. This move could provide Blackstone with a lucrative exit less than two years after acquiring the sandwich chain, highlighting the company's rapid growth and market appeal. The IPO not only underscores Jersey Mike’s success but also reflects the broader trend of private equity firms seeking lucrative exits through public markets. This development has significant implications for both the fast-food industry and private equity strategies.