cnbc.com
Blackstone to Acquire Jersey Mike's Subs
Blackstone acquires Jersey Mike's Subs for approximately $8 billion, highlighting the increasing interest of private equity firms in franchise operators.
- What is the value of the deal between Blackstone and Jersey Mike's Subs?
- Blackstone, a private equity firm, has agreed to acquire Jersey Mike's Subs for approximately $8 billion, a deal expected to close in early 2025.
- What factors are driving private equity firms' increased interest in franchise operators?
- The acquisition highlights the growing interest of private equity firms in franchise operators, following Roark Capital's purchase of Subway last year.
- What are the plans for Jersey Mike's future growth and expansion under Blackstone's ownership?
- Jersey Mike's founder and CEO, Peter Cancro, will retain an equity stake and continue to lead the company, with Blackstone aiding in domestic and international expansion.
Cognitive Concepts
Framing Bias
The article presents the acquisition in a largely positive light, emphasizing the potential for growth and mutual benefits for both parties involved.
Language Bias
The language used in the article is largely neutral and factual, avoiding overtly positive or negative connotations.
Bias by Omission
The article focuses heavily on the positive aspects of the deal, such as the growth potential and Blackstone's experience with franchise businesses, while omitting potential downsides or criticisms.
Sustainable Development Goals
The acquisition is likely to create jobs and boost economic growth in the fast-casual restaurant sector. It also demonstrates confidence in the economic future of the franchise model.