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001122334455554433221100

teen entrepreneur transforms sandwich shop into eight billion dollar empire

At 17, Peter Cancro purchased Mike’s Subs for $125,000, later rebranding it as Jersey Mike’s, which has now been valued at $8 billion following a majority acquisition by Blackstone. With nearly 3,000 locations and $3.3 billion in sales in 2023, Cancro retains a significant equity stake and will continue as CEO. Despite past challenges, including financial struggles in the early '90s and the 2006 downturn, the company has seen consistent growth, averaging 20% annually since 2019.
CNBC
Hilton Hotels Jersey Mike’s Subs Tropical Smoothie Café Blackstone Inc. USA Peter Cancro Show more
Finance & Economy, Press Release
15:30 23.11.2024
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