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Jersey Mike's set the expected price range for its IPO at $21 to $25 per share, putting the sandwich chain's implied valuation between $6.67 billion and $7.94 billion.
At the proposed price range, the chain could raise between $913 million and $1.09 billion in gross proceeds.
The company will list its stock on the New York Stock Exchange under the ticker symbol "JMKE."
READ MORE: Jersey Mike's Files to Go Public After Years of Explosive Growth
Founded in 1956, Jersey Mike's has expanded to more than 3,300 restaurants across the U.S. and Canada.The chain reported $4.3 billion in systemwide sales during 2025, average unit volumes of approximately $1.4 million, and cumulative same-store sales growth of 50 percent from 2020 through 2025. Its loyalty program counted more than 12 million active members as of the first quarter of 2026.
The filing outlines plans for continued unit development, digital growth, menu innovation, and international expansion.
Jersey Mike's sees an opportunity for approximately 7,500 U.S. restaurants and as many as 15,000 locations worldwide over the long term. The company also reported a development pipeline of more than 1,600 restaurants, with existing franchisees responsible for over 90 percent of those commitments.
Jersey Mike's has posted 20 consecutive years of positive same-store sales growth, including increases of 8.4 percent in 2023, 2 percent in 2024, and 3.2 percent in 2025. Average unit volumes have risen every year since 2006, reaching approximately $1.4 million in fiscal 2025. A growing share of restaurants now generates more than $2 million in annual sales.
Aided brand awareness topped 90 percent in 2025, supported by more than $200 million in annual advertising spending, partnerships including the NFL, and a loyalty program that has grown to more than 12.5 million active members. Jersey Mike's also said it debuted at No. 1 in the 2026 American Customer Satisfaction Index quick-service rankings, ending Chick-fil-A's 11-year run atop the category.
Blackstone acquired a majority stake in Jersey Mike's in early 2025. Following the IPO, entities controlled by Blackstone are expected to retain majority voting control.
The post Jersey Mike's Targets Nearly $8 Billion Valuation in IPO appeared first on QSR Magazine.
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