4 takeaways from Jersey Mike's IPO filing, from a $41 million jet to plans to quadruple stores
Jersey Mike's is preparing for a major IPO, revealing plans to expand from 3,300 to 7,500 domestic locations. The filing also disclosed significant executive spending, including a $41 million private jet.
Why it matters
The IPO filing offers a rare look into the financial strategy and growth ambitions of one of the largest private restaurant chains in the U.S.
Jersey Mike's has big expansion plans, according to its IPO prospectus. Bloomberg/Getty Images Sandwich chain Jersey Mike's is gearing up for an initial public offering. It spent $41 million on a jet for its founder and has big expansion plans, according to its IPO prospectus. Here are four interesting tidbits from the restaurant chain 's 220-page document. There's a lot sandwiched in Jersey Mike's IPO filing. The restaurant chain is gearing up to go public in what's on track to be the second-biggest restaurant IPO of all time. Unlike its peers, many of which went public earlier in their histories, Jersey Mike's is an established brand with thousands of restaurants. Founder Peter Cancro started Jersey Mike's after buying a single sandwich shop in New Jersey in 1975. Since then, Cancro has grown Jersey Mike's into a national chain.
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