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.
