Blackstone (BX.US) is reportedly set to acquire Jersey Mike's, a sandwich chain in the US.
1min read Blackstone (BX.US) is close to a deal to buy Jersey Mike's, the sandwich chain, for about $8bn, including debt, according to people familiar with the matter. The sale could be announced as early as this week, the people said. The final agreement has not yet been reached and the negotiations could still fall apart, the people said. Last year, private equity firm Roark Capital Group agreed to buy Subway, Jersey Mike's larger rival, for more than $9bn. Blackstone has been investing in food service chains this year. In February, Blackstone Group announced a growth equity investment in 7Brew Coffee to help accelerate its drive-thru beverage business. In April, Blackstone said it had agreed to buy Tropical Smoothie Cafe, a fast-casual restaurant franchisor, from Levine Leichtman Capital Partners.