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Peter Cancro

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Jersey Mike’s Sells Majority Stake To Blackstone, Chain's Founder Aims For 'Greater Heights' Jersey Mike’s Sells Majority Stake To Blackstone, Chain's Founder Aims For 'Greater Heights'
Jersey Mike’s Sells Majority Stake To Blackstone, Chain's Founder Aims For 'Greater Heights' Jersey Mike’s Subs, a Garden State icon that grew into a national sandwich powerhouse, is set to sell a majority stake to private equity giant Blackstone, officials said. The Manasquan-based restaurant chain has agreed to sell the stake in the company, Blackstone said in a news release on Tuesday, Nov. 19. Jersey Mike’s founder and CEO Peter Cancro will keep a significant equity share and continue leading the business. When he was 14 years old, Cancro began working at the original location in Point Pleasant that opened as Mike's Subs in 1958. At 17, he bought the restaurant in 1975 and…

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by Chris Spiker
Business
Jersey Mike's Opens In Boonton Jersey Mike's Opens In Boonton
Jersey Mike's Opens In Boonton Jersey Mike’s sub shop has opened on Myrtle Avenue in Boonton. Franchise owner Evan Mayer is holding a fundraiser to kick off the store’s grand opening. Customers with a fundraising coupon can make a minimum contribution of $2 to The Valerie Fund, which supports children with cancer diagnoses, through Sept. 20. “I joined Jersey Mike’s in May 1998 at the Original Jersey Mike’s in Point Pleasant Beach, NJ,” said Mayer.  “This was my first job at 14 years old and I’ve been with Jersey Mike’s this entire time (now 35 years old). I was initially attracted to the family atmosphere of the co…

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by Valerie Musson