Jersey Mike’s is crossing the Atlantic with a plan to open 400 sandwich shops in the United Kingdom and Ireland in what is expected to be the first step in a larger international expansion.
The New Jersey-based company announced it has signed a franchise agreement with JM Submarines UK LTD, a company led by Jersey Mike’s founder Peter Cancro.
The first location is planned to open this year.
Cancro, now 67, founded Jersey Mike’s in 1975 when he purchased the original Mike’s Subs shop in Point Pleasant at age 17.
He served as CEO for nearly 50 years before transitioning to chairman last year.
Despite the company’s sale to Blackstone last year, Cancro remains a significant shareholder.
“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,” Cancro said in a written statement. “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.”
The partnership represents an unusual arrangement where a company founder returns as a franchisee to lead international expansion.
Charlie Morrison, Jersey Mike’s chief executive officer, called Cancro “the ideal partner for the venture.”
“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,” Morrison said. “We are thrilled to have Peter lead our first European expansion in what is a very exciting new chapter for the company.”
Andy Skehan, president of international at Jersey Mike’s, said the UK and Ireland expansion represents the beginning of broader global growth plans.
Jersey Mike’s operates more than 3,200 fast-casual sandwich shops across the U.S. and Canada.
