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The Rise of Jersey Mike's: A Cautionary Tale in Private Equity
Jersey Mike's, famed for its motto, "A sub above," has evolved from a modest sandwich shop on the Jersey Shore, founded in 1956, into a billion-dollar chain loved by millions of Americans. However, this success story has recently attracted the attention of Wall Street, culminating in the staggering acquisition of Jersey Mike's by the Blackstone Group for $8 billion. This acquisition raises questions about private equity's influence and the often-hidden mechanisms behind profitable deals in seemingly thriving companies.