KEY TAKEAWAYS Blackstone has bought control of Jersey Mike’s Subs, in the latest move by the private equity giant to buy franchisors.Blackstone didn’t give a deal amount, but The Wall Street Journal,

Jersey Mike's, the quickly expanding sandwich chain, is being acquired by the private equity firm Blackstone. The transaction is "intended to help enable Jersey Mike’s to accelerate its expansion across and beyond the U.

Blackstone has agreed to buy Jersey Mike's Subs, the sandwich chain said on Tuesday, in a deal that a source said valued the company at around $8 billion, including debt. Reuters had reported on Monday,

The New Jersey-based sub giant, reportedly valued at $8 billion, aims to grow beyond 3,000 locations in the U.S.

Jersey Mike’s Subs is selling a significant stake to private equity giant Blackstone, ending its nearly seven-decade run as an independently owned business that transformed into a major competitor against well-entrenched competitors like Subway.

Blackstone will acquire a majority stake in Jersey Mike's Subs, the sandwich chain said on Tuesday, marking the private equity firm's latest investment in a franchise business. Reuters had reported on Monday,