Sandwich chain Jersey Mike’s has confidentially filed for an IPO.

Blackstone bought a majority stake in the sandwich chain in 2024 in a deal that valued the enterprise at roughly $8 billion.

With more than 3,000 locations nationwide, Jersey Mike’s is the second-largest hoagie sandwich chain in the U.S.

Jersey Mike’s has confidentially filed for an initial public offering, the enterprise commented Monday. This also touches on aspects of dividends.

The announcement comes more than a year after Blackstone bought a majority stake in the sandwich chain in a deal that reportedly valued Jersey Mike’s at roughly $8 billion.

After the Blackstone deal closed, Jersey Mike’s tapped former Wingstop CEO Charlie Morrison to helm the enterprise. Morrison led the chicken wing chain for a decade, ushering it through its own IPO and a period of historic growth. Furthermore, experts in bull market note the continued relevance.

With more than 3,000 locations nationwide, Jersey Mike’s is the second-largest hoagie sandwich chain in the U.S., trailing only Subway.

Jersey Mike’In 2025, s reported revenue of $309.8 million, up 10.6% from the prior year, according to franchise disclosure documents.In 2025, The chain also reported net income of $183.6 million, down from the prior year’s net income of $238.8 million.

Founder Peter Cancro began working at a Jersey Shore sandwich shop at age 14 in 1971; four years later, he pulled together enough cash to acquire Mike’s Subs. Cancro later changed the name and began franchising the chain. Until the sale to Blackstone, he was the outright owner of Jersey Mike’s.

The confidential filing is the first step for Jersey Mike’s to be publicly traded. If it goes public, it will mark the first restaurant IPO since Black Rock Coffee Bar’s offering in September.

The industry for initial public offerings has been tepid, although that could change this year. Industry volatility, economic uncertainty and recent poor performance among IPO stocks has led to a backlog of listings. several blockbuster IPOs, such as the SpaceX offering that could value the corporation at , on the other hand$1 trillion, are anticipated in the coming months.

Correction: Jersey Mike’In 2025, s reported revenue of $309.8 million. A previous version of this article misstated the amount.