Jersey Mike's Founder to Run Stores Again After $8 Billion Sale

Dow Jones01-12

By Heather Haddon

Jersey Mike's sale last year made founder Peter Cancro a billionaire, but he's not done slinging subs.

The sandwich chain said Monday it is expanding outside North America for the first time with a 400-location development deal in Europe and the U.K. Cancro, who currently serves as board chairman of Jersey Mike's after he sold the chain to Blackstone, will begin to open the U.K. and Ireland shops this year as a franchisee.

"I'm eager to personally operate the brand I love," said Cancro, 67 years old.

Starting with a single Jersey Shore sub shop in 1975, Cancro built Jersey Mike's into a national chain of more than 3,200 restaurants serving sandwiches piled high with meat and cheese. Cancro remained the company's sole owner for decades, and retained a stake after its $8 billion sale. Last year Jersey Mike's hired its first outside chief executive, former Wingstop CEO Charlie Morrison.

Blackstone, which also has stakes in fast-growing chains like coffee company 7 Brew, said it wants to help Jersey Mike's grow in the U.S. and beyond.

Write to Heather Haddon at heather.haddon@wsj.com

(END) Dow Jones Newswires

January 12, 2026 06:25 ET (11:25 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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