Jersey Mike's Franchise Systems, Inc.

What does Jersey Mike's own?
Jersey Mike's operates a single brand, the Jersey Mike's submarine sandwich chain, with approximately 3,300 locations across North America. The company does not own multiple restaurant brands. Its menu includes cold subs, hot subs, wraps, bowls, and catering, all under the Jersey Mike's name.

Is Jersey Mike's publicly traded?
Yes, Jersey Mike's completed its IPO on the New York Stock Exchange in July 2026 under ticker symbol JMKE. The company sold 43.5 million shares, raising approximately $1 billion at a valuation of $7.3 billion. Prior to the IPO, the company was majority-owned by Blackstone, which acquired its stake in late 2024.

Who founded Jersey Mike's?
The original shop was opened in 1956 in Point Pleasant Beach, New Jersey as "Mike's Subs" by Mike and Marion Manzo. Peter Cancro, who worked at the shop as a teenager, purchased it in 1975 at age 17 with a $125,000 loan from his football coach. Cancro renamed it Jersey Mike's and grew the chain from one location to approximately 3,300 restaurants.

Where is Jersey Mike's headquartered?
Jersey Mike's Franchise Systems, Inc. is headquartered in Manasquan, New Jersey, USA, near the original Point Pleasant Beach location where the chain was founded.

How many brands does Jersey Mike's own?
Jersey Mike's operates under a single brand. The company runs the Jersey Mike's submarine sandwich chain and does not own or operate other restaurant brands. All approximately 3,300 locations operate under the Jersey Mike's name.

Who owns Jersey Mike's?
Following the July 2026 IPO, Jersey Mike's is a publicly traded company on the New York Stock Exchange under ticker JMKE. Blackstone acquired a majority stake in late 2024 at an $8 billion valuation and sold shares in the IPO. Founder Peter Cancro remains a significant shareholder and director. CEO Charlie Morrison leads day-to-day operations.

What is Jersey Mike's revenue?
Jersey Mike's reported total company revenue of $724 million in fiscal 2025, with net income of approximately $55 million and adjusted EBITDA of $339 million. Systemwide sales across all franchise and company locations reached $4.3 billion in fiscal 2025, up 13% from the prior year.

The original Jersey Mike's location opened in 1956 in Point Pleasant Beach, New Jersey as "Mike's Subs," founded by Mike and Marion Manzo. The shop became a local institution on the Jersey Shore, known for its fresh submarine sandwiches.

Peter Cancro, a local teenager who worked at the shop, purchased Mike's Subs in 1975 at age 17. He financed the $125,000 purchase with a loan from his high school football coach, Rich Hope. Cancro renamed the chain Jersey Mike's and began franchising in the 1980s.

Growth was steady through the 1980s and 1990s. The chain had 1,048 locations in 2015. By 2023, that number reached 2,675. The company added a net 288 stores in 2023, 314 in 2024, and 238 in 2025, reaching 3,227 restaurants by year-end 2025. The growth trajectory has been consistent, with average unit volumes climbing every year since 2006.

In late 2024, Blackstone acquired a majority stake in Jersey Mike's at a valuation of approximately $8 billion, including debt and an earn-out agreement tied to reaching 4,000 stores. Peter Cancro retained a significant equity stake and continued as CEO initially.

In April 2025, Charlie Morrison became CEO, replacing Peter Cancro as only the second chief executive in the brand's history. Morrison previously served as CEO of Wingstop, Pizza Inn, and Salad and Go. Cancro stepped aside from the CEO role but remained a significant shareholder and director.

The Blackstone deal closed on January 16, 2026. Later that month, Jersey Mike's invited banks to compete for a role in a potential IPO. The company filed its S-1 registration statement with the SEC and completed its IPO on July 30, 2026, selling 43.5 million shares and raising approximately $1 billion on the New York Stock Exchange under ticker JMKE. The IPO valued the company at approximately $7.3 billion.

Jersey Mike's announced plans for international expansion, including 300 restaurants in Canada and 300 across the United Kingdom and Ireland. Cancro is leading the European expansion, with the first UK restaurants expected to open near the end of 2026. The company sees long-term potential for 15,000 restaurants worldwide, with half in the United States and half internationally.