Jersey Mike’s Subs is taking its iconic sandwiches overseas with its first European expansion planned for this year, the company announced Monday.
Leading this initiative is the brand’s founder and chairman, Peter Cancro, through his company, JM Submarines UK LTD.
The deal between Jersey Mike’s and Cancro will see 400 stores open in the UK and Ireland, and will be the first in a series of plans for future international growth. Privately held Jersey Mike’s was acquired for $8 billion by Blackstone in late 2024.
“All consumers, not just here in the United States but all over the world, are looking for great value, but they want quality. They want authenticity,” Jersey Mike’s CEO Charlie Morrison told CNBC in an interview. “Everything about the brand speaks to quality and freshness, and I think that’s what consumers everywhere want. They’re going to be picky and cautious about what they choose, but we’re confident they’re going to choose Jersey Mike’s over anyone else.”
Morrison noted that deli-style subs are becoming a staple internationally and he plans to stay true to the brand’s roots in this expansion. He said Jersey Mike’s 20 consecutive years of positive same-store sales growth in the United States helped inform the international move.
A Jersey Mike’s restaurant in Walnut Creek, California, United States, on Thursday, November 21, 2024.
David Paul Morris | Bloomberg | Getty Images
At Wingstop, where Morrison served as CEO until 2022, the brand had a strong foothold in international markets and was a pandemic winner in terms of stock performance and sales.
“I’ve learned that in my past, that consumers around the world really prefer you to bring them…which has brought the brand to where it is today,” Morrison said.
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 almost 50 years, until Morrison took over in April 2025.
He said diners might see different toppings or sauces overseas than in the United States, but the product would be true to what is served in the states.
“We see it as a great sandwich market,” Cancro said of Europe. “[There are] many players in the market, and we see this as a tremendous opportunity. »
The American consumer is increasingly value-conscious, but Jersey Mike’s believes it can still win over diners in this environment, Morrison said.
“Certainly, we’ve seen some challenges at the lower end of the industry, but again, at Jersey Mike’s, it’s a sought-after product. It’s a product that’s going to be a staple for consumers for a long time,” he said.