Jersey Mike's IPO Valued Above $8 Billion

Sandwich chain Jersey Mike's is preparing to go public on the New York Stock Exchange (NYSE) with a significant valuation. The company is expected to be valued at approximately $8 billion, positioning it as the largest U.S. restaurant IPO in two decades.

The company intends to offer 43.5 million shares, with pricing projected between $21 and $25 per share. At the upper end of this range, the initial public offering could raise nearly $1.1 billion. Approximately 68 percent of the shares being offered will be sold by existing shareholders, potentially generating around $742 million at the highest proposed price.

Among the selling shareholders is private equity firm Blackstone, which acquired a majority stake in Jersey Mike's in November 2024. The substantial valuation reflects investor expectations for the chain's continued expansion and growth.