Jersey Mike’s Subs, a franchisor of more than 3,200 fast-casual sandwich shops, said Jan. 12 it has signed a franchise agreement with JM Submarines UK LTD, led by Jersey Mike’s founder and Chairman of the Board Peter Cancro to open 400 stores in the United Kingdom and Ireland. This agreement marks the first European expansion for Jersey Mike’s, with plans to open the first location later this year.
Cancro founded Jersey Mike’s more than 50 years ago and remains a significant shareholder following the company’s sale to Blackstone last year. Â
“This marks a pivotal milestone in Jersey Mike’s growth journey as we expand into the European market,” said Charlie Morrison, chief executive officer at Jersey Mike’s. “We could not ask for a better partner than Peter to lead this market expansion. Peter built this brand from the ground up, from our first location on the Jersey Shore to over 3,000 locations across North America during his time as CEO. We are thrilled to have Peter lead our first European expansion in what is a very exciting new chapter for the Company.”
Cancro founded Jersey Mike’s Subs in 1975, when at 17 years old he bought the first Mike’s Subs shop in Point Pleasant. As Jersey Mike’s CEO for nearly 50 years, he grew the company into one of the most beloved fast-casual brands in the U.S., before transitioning to chairman in April 2025. The agreement with Blackstone allows Cancro to keep an equity stake in the company. He is now worth an estimated $7.5 billion.
Jersey Mike’s was purchased by private equity firm Blackstone in November 2024 for a reported $8 billion. The store rollout in the UK and Ireland fits into Blackstone’s aggressive expansion strategy in the United States and internationally for Jersey Mike’s. The New Jersey icon added 322 locations in 2024, its biggest expansion in a single year.Â
“I’ve lived and breathed this brand my entire life, starting when I worked at the original Mike’s Subs in Point Pleasant as a teenager,” said Cancro, founder and chairman of the board at Jersey Mike’s and CEO of JM Submarines UK LTD. It was incorporated in London in July 2025. “To now have the opportunity to bring Jersey Mike’s to the UK and Ireland as a franchisee is incredibly exciting. I see tremendous potential in these markets, and I’m eager to personally operate the brand I love in regions that value quality and community as much as we do.”
With plans for accelerated international growth, Jersey Mike’s is moving toward positioning as a globally recognized brand.
Morrison told CNBC on Jan. 12 that deli-style subs are becoming a staple internationally, and he plans to stay true to the brand’s roots in this expansion. He noted that Jersey Mike’s has had 20 straight years of positive same-store sales growth in the U.S.
Jersey Mike’s announcement to enter Europe comes about two years after Jersey Mike’s made public its plan to enter Canada with Burger King and Taco Bell franchise operator Redberry Restaurants. The first store opened in August and Jersey Mike’s landed in Toronto the following January. That signaled the first major international expansion plan for Jersey Mike’s since its founding.
“I’m thrilled to partner with Peter and his team as we bring Jersey Mike’s to the UK and Ireland, two markets with incredible potential that represent just the beginning of our global growth journey,” said Andy Skehan, president of International at Jersey Mike’s. “I’m confident that communities worldwide will embrace what has made Jersey Mike’s a beloved brand across North America, and we are now ready to build upon our strong operations foundation and brand recognition to take our next step toward global expansion.”
