Blackstone
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Talk about a "working lunch"...! 🥪We’re excited to announce our agreement to acquire a majority stake in Jersey Mike's Subs, a partnership intended to help the company accelerate their expansion through the US and beyond.
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Transcript
Hey, Steve. What are we doing here? I'm doing my due diligence on Jersey Mike's. Jersey Mike's. Nice! How did you get that sub prepared? Well, it's Mike's way. And if it's Mike's way, it's Steve's way. Why is our PE business so excited about investing in Jersey Mike's? Well, I think they like to eat. That's one reason. The second reason is we think we can do a great job helping Peter Cancro and his terrific team expand the business. Great. So are you going to eat all of that? I'll give you my cookie. Deal!
Bill Skelton
The Genetic Freak
1w
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I love Jersey Mikes! However, I think the bread could be improved. When I make bread I use Flour, Olive Oil, Salt, Water, and Yeast.I noticed that the bread at Jersey Mikes uses cane sugar, white sugar, ammonium sulfate, ascorbic acid, calcium sulfate, DATEMs, dough conditioners, niacin, riboflavin, sodium stearoyl lactylate, soybean oil, canola oil, thiamin mononitrate, thiamine mononitrate, wheat flour, water, salt, yeast, and 13 other ingredients. Do you think you simplify the bread?
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Jim Garino
Senior Sales Representative, Northeast @ SafePoint Scientific
1w
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Here comes the shrinkage.
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Karl Gauvin
Investment Product Strategy | Investment Advisory | AI-Powered Stock Selection | Heart Transplant Recipient
1w
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Don’t give up and keep going in the business of poisoning Americans with fast food. With options often high in calories, sodium, and saturated fat, it’s hard to call it healthy by any standard. In a few years, the fast-food industry will be the equivalent of today’s cigarette manufacturers: companies in terminal decline, with no future.This sandwich looks disgusting by the way…sorry to be the party pooper.
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Thomas L.
ISR Collection Management - Cleared Professional
1w
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would love to see an analysis of the decline in quality after blackstone has acquired a brand
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Garrett Stephens
Inventory and Demand Planner at Cozy Earth
1w
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Worked at Jersey Mikes in highschool as one of my first jobs. It’s always been one of my favorite restaurants. It’s a shame the food is going to start sucking now that Blackstone had to swoop in and will start cutting back on quality to increase the bottom line.
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Massie Flippin
Wake Forest University Student Majoring in Economics with minors in Computer Science and Classical Studies
1w
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It was fun while it lasted.
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Jeff Gach
SVP / Business Credit / Lender
1w
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Please do not change the quality of ingredients
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Nate Fitzgerald
Senior Network Engineer
1w
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RIP Jersey Mikes....It's always something...So tired of big corporations and the financial nonsense and putting profits over quality and employees...
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Pretty "cute" video to announce Blackstone's acquisition of Jersey Mike's. I assume there was more to the due diligence process beyond lunch and crunch (numbers) and that there is a well-thought-out strategy that has been developed or conceptualized to create value for the business. Otherwise, that is a very expensive ($8bn) sandwich. It would be interesting to hear your thoughts on the acquisition and how Blackstone can unlock value for this popular fast-food chain. Please share your thoughts in the comments.
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This is super well done.
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