Let's get this bread.
Jersey Mike's is taking a major step toward becoming a publicly traded company, potentially giving everyday investors the chance to own a piece of the fast-growing sandwich chain.
The company announced Thursday that it has filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering on the New York Stock Exchange. The move would allow Jersey Mike's to sell shares of the company to the public for the first time.
The company has not yet determined how many shares it plans to sell or what they will cost, according to a news release. The IPO must still be reviewed by regulators and will depend on market conditions, meaning there is no guarantee when, or even if, the stock offering will take place.
The Independent has contacted Jersey Mike's for comment.
The IPO also comes less than two years after investment firm Blackstone bought a majority stake in Jersey Mike's. Since then, the company has continued to focus on growth, bringing in former Wingstop CEO Charlie Morrison to lead the business while founder Peter Cancro stepped into the role of chairman.
Jersey Mike's began in 1956 as a small regional sandwich shop in Point Pleasant, New Jersey, and has grown to more than 3,300 locations in the U.S., the vast majority of them owned and operated by franchisees. About 2,000 of those restaurants have opened over the past decade.
The IPO filing reportedly highlights the chain's strong sales. Restaurants that have been open for at least a year generate average annual sales of about $1.4 million, according to Restaurant Dive. Same-store sales, a measure of sales growth at existing locations, increased a combined 50 percent between 2020 and 2025, Jersey Mike's said, per the outlet.
The company reported net income of $55 million on $724 million in revenue last year, up from $5 million in profit on $653 million in revenue in 2024, according to the regulatory filing, CNBC reports.
