Jersey Mike’s Subs is planning its first European expansion this year, bringing its signature sandwiches overseas, the company announced Monday.
This drive is led by the brand’s founder and chairman of the board, Peter Cancro, through his company JM Submarines UK LTD.
The deal between Jersey Mike’s and the Cancro entity calls for the company to open 400 stores in the UK and Ireland, the first in a series of plans for future international growth. Privately owned Jersey Mike’s was acquired by Blackstone in late 2024 for a reported $8 billion.
“All consumers, not just here in the U.S. but around the world, want great value, but they also want quality. They want authenticity,” Jersey Mike’s CEO Charlie Morrison said in an interview with CNBC. “Everything about this brand screams quality and freshness, and we think that’s what consumers everywhere in the world want. They’ll be selective and careful about what they choose, but we strongly believe they’ll choose Jersey Mike’s over anyone else.”
Morrison said the company intends to stay true to the brand’s roots in this expansion, noting that deli-style subscriptions are becoming an international staple. He said Jersey Mike’s 20 consecutive years of positive same-store sales growth in the U.S. will influence its international moves.
Thursday, November 21, 2024 at Jersey Mike’s Restaurant in Walnut Creek, California, USA.
David Paul Morris | Bloomberg | Getty Images
At Wingstop, where Morrison remained CEO until 2022, the brand expanded significantly into international markets and emerged as a pandemic winner in terms of both stock price performance and sales.
“I’ve learned in the past that consumers around the world really want you to bring them with them…that’s what has led the brand to where it is today,” Morrison said.
Mr. Cancro founded Jersey Mike’s in 1975 after purchasing the first Mike’s Subs store in Point Pleasant, New Jersey. He led the brand as CEO for nearly 50 years, until Mr Morrison took over in April 2025.
He said that while you may see different toppings and sauces overseas than in the U.S., the product is true to what’s served in the U.S.
“We think Europe is a great sandwich market,” Cancro said of Europe. ”[There are] There are many players in the market and we think there is a huge opportunity. ”
Morrison said he believes Jersey Mike’s can win over customers in an environment where U.S. consumers are becoming increasingly value-oriented.
“Certainly, we know there are some challenges with lower end products across the industry, but for Jersey Mike’s, it’s a coveted product. It’s a product that will be a staple for consumers for a long time to come,” he said.
