The Latest Breaking News from Blackstone

Peter Cancro has been with the sub sandwich chain for more than 50 years.

Jersey Mike’s, the quickly expanding sandwich chain, is being acquired by the private equity firm Blackstone

The U.S.-based sandwich chain has around 3,000 locations.

Jersey Mike's Subs operates around 3,500 locations, with approximately 2,800 in the United States. The remaining outlets are distributed across Canada and Mexico, employing over 19,000 individuals.

The billionaire founder would be just the latest top PE executive to wield power in aTrump White House.

Blackstone has outperformed the broader market this year, and Wall Street analysts are moderately bullish about the stock’s prospects.

This year has seen a slowdown in real estate deal-making, with U.S. mergers and acquisitions declining by 39% to $27.1 billion, according to data from Dealogic. Elevated interest rates have raised borrowing costs, impacting the market.

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