Blackstone продвигает выход на IPO сети сэндвичных ресторанов Jersey Mike's с оценкой в 8 миллиардов долларов

According to Gelonghui, July 30 — At the beginning of last year, Blackstone spent about $6 billion and assumed related debt to acquire a majority stake in Jersey Mike's Subs. At that time, this private equity giant did not want to easily change the quality of the signature sandwiches at this chain. However, Blackstone still listed a series of tasks and pushed them forward one by one, covering all aspects from menu adjustments to controlling company expenses. Now, 18 months have passed, and the brief journey of Jersey Mike's as a private equity-owned, non-listed company is about to end. The company is scheduled to debut on the New York Stock Exchange on Thursday, with the ticker symbol “JMKE” and a valuation of about $8 billion. In this offering, the company and existing investors will sell up to $1.09 billion in stock, making it one of the largest restaurant IPOs in the U.S. in recent years. Blackstone's leveraged buyout saddled Jersey Mike's with about $500 million in additional debt, bringing its total liabilities to $2.1 billion. This directly caused its annual interest expenses for 2025 to soar to $104 million, up from $43 million in 2024. Investors do not appear to be concerned about the company’s heavy debt burden. According to sources, demand for Jersey Mike's shares in this offering far exceeds supply. Another source said that over the past 18 months, a team of more than a dozen Blackstone dealmakers and executives has been paving the way for Jersey Mike’s IPO.