Jersey Mike's Subs, the fast-growing sandwich chain backed by Blackstone, has confidentially filed for an initial public offering, submitting a draft registration statement on Form S-1 to the Securities and Exchange Commission. The franchise operates more than 3,200 locations across the United States and Canada, positioning it as one of the larger players in the quick-service restaurant space. Blackstone acquired the sub sandwich franchise from founder Pete Cancro in 2024, placing a significant bet on the quick-service restaurant sector. The private equity giant manages $1.3 trillion in assets and has been actively investing in franchise-based businesses with strong growth potential.

The company's headquarters are in Manasquan, New Jersey. The IPO filing comes roughly a year after Blackstone's acquisition, suggesting the private equity firm is looking to monetize its investment. The move could attract investor interest in the growing fast-casual sandwich segment, where Jersey Mike's competes with Firehouse Subs and Jimmy John's.

A successful public offering would provide the company with capital to fuel continued expansion across North America.