Look for More Jersey Mike’s Shops After Blackstone Makes Billion-Dollar Investment

— Jeff Ward, Lehigh Valley News Briefs

Jersey Mike’s sub shops have been popping up in the Lehigh Valley, most recently at the Westgate Mall in Bethlehem.

There is more growth to come for the chain now that investment firm Blackstone has acquired a majority stake.

For some reason, the press release uses “partner” as a verb to describe the transaction. That is a ubiquitous weasel word that corporations love to put in their statements. Founder Peter Cancro does retain a stake in the company.

The Wall Street Journal said the transaction values Jersey Mike’s at $8 billion.

Backstone has about $1.1 trillion in assets under management. Jersey Mike’s operates more than 3,000 locations.

— Disclosure: I sometimes order from Jersey Mike’s. The quality is consistent at its franchises and prices are reasonable.