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Splash Communications handles Jersey Mike’s Subs as private equity giant Blackstone gobbles up a majority stake in the submarine sandwich chain.
Jersey Mike’s founder/CEO Peter Cancro will remain at the helm and retain a significant stake in the company.
He called Blackstone the right partner to bankroll Jersey Mike’s growth in the US and beyond. It will also make the needed investments for technology and digital transformation.
Blackstone has experience in growing franchisors such as Hilton Hotels and SERVPRO, cleanup & restoration chain.
Cancro began working at his company’s original Point Pleasant location when he was 14. It opened as “Mike’s Subs” in 1956.
Canco bought the shop in 1975 at age 17. He started franchising Jersey Mike’s in 1987. It now has more than 3,000 units either open or in development.
Splash Communications founder Kyle Potvin represents Jersey Mike’s.
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