Jersey Mike’s IPO valuation could reach eight times Sweetgreen’s market cap

Jersey Mike’s is preparing for an IPO with a valuation potentially exceeding $7.9 billion, significantly higher than recent restaurant IPOs like Sweetgreen and Cava. The company plans to raise $913 million to $1.1 billion by offering 43.5 million shares, with private equity backers including Blackstone and Abu Dhabi Investment Authority selling shares while retaining stakes.