Blackstone strikes $8 billion deal for sandwich chain Jersey Mike's Subs, Reuters reports [CNBC]
Hilton Worldwide Holdings Inc. (HLT)
Last hilton worldwide holdings inc. earnings: 2/11 06:00 am
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Source: CNBC
Reuters had reported on Monday, citing a person familiar with the matter, that Blackstone was nearing a deal for Jersey Mike's. The deal, which is expected to close in early 2025, underscores private equity (PE) firms' increasing interest in franchise operators. Last year, PE firm Roark Capital agreed to buy Subway, Jersey Mike's bigger rival, in a deal valued at up to $9.55 billion. Jersey Mike's, known for its submarine sandwiches, traces its roots back to 1956 when Cancro started working at the company's Point Pleasant, New Jersey location, which was founded as Mike's Subs. Cancro acquired the location in 1975 and began franchising units in 1987. Since then, Jersey Mike's has grown into one of the major fast-casual restaurant chains in America with over 3,000 locations nationwide open and in development. “We believe we are still in the early innings of Jersey Mike's growth story and that Blackstone is the right partner to help us reach even greater heights,” Jersey Mike'
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- Hilton Fuels Growth in India With Strategic Licensing Agreement [Yahoo! Finance]Yahoo! Finance
- Jersey Mike's sold at $8 billion value to private equity firm [Yahoo! Finance]Yahoo! Finance
- Hilton plans to expand footprint in India amid boom in leisure travel demand [Yahoo! Finance Canada]Yahoo! Finance Canada
- Jersey Mike's to Partner with Blackstone to Accelerate Leading Franchisor's Continued Growth [Yahoo! Finance]Yahoo! Finance
- Blackstone nears deal for Jersey Mike's Subs, source says [Yahoo! Finance Canada]Yahoo! Finance Canada
HLT
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- 10/23/24 - Beat
HLT
Sec Filings
- 10/25/24 - Form 4
- 10/24/24 - Form 144
- 10/23/24 - Form 10-Q
- HLT's page on the SEC website