Jersey Mike’s Files for IPO, Targets $12 Billion Valuation Amid Expansion

15 articles · Updated · CNBC · Apr 20

Jersey Mike’s has confidentially filed documents for a U.S. initial public offering, aiming for a potential valuation of at least $12 billion.
The sandwich chain, now majority-owned by Blackstone, operates over 3,200 locations and reported $4.2 billion in systemwide sales in 2025.
If successful, this would be the first major restaurant IPO since 2025, as Jersey Mike’s continues rapid expansion and international growth plans.

Is Jersey Mike's $12 billion valuation a sign of strength or a market bubble?

Will going public sacrifice the unique culture that made Jersey Mike's a success?

Can Jersey Mike's conquer the UK market where other US chains have failed?

How will CEO Charlie Morrison replicate his previous IPO success with Wingstop?

Can the company triple its locations without cannibalizing its own franchisees?