{"id":1710,"date":"2026-07-20T19:42:25","date_gmt":"2026-07-20T19:42:25","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=1710"},"modified":"2026-07-20T19:42:25","modified_gmt":"2026-07-20T19:42:25","slug":"jersey-mikes-ipo-could-hand-existing-shareholders-742-million","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=1710","title":{"rendered":"Jersey Mike\u2019s IPO Could Hand Existing Shareholders $742 Million"},"content":{"rendered":"<div>\n<h2>surprising fact<\/h2>\n<p>Jersey Mike\u2019s IPO prospectus earlier this month <u>revealed<\/u> how much the family of founder Peter Cancro, whose net worth is estimated at <u>$4.9 billion<\/u> as of Monday, has been paid by the company. His stepson, Philip Sivolobov, received $50.5 million from Jersey Mike\u2019s from 2023 to 2025, and Cancro\u2019s brother-in-law Daniel Power collected more than $31 million from 2024 to 2025, while brother John Cancro received about $21 million from 2023 to 2025. The filing noted Peter Cancro\u2019s family members were \u201cemployed by the company in various roles,\u201d though no family members listed in the filing received compensation from Jersey Mike\u2019s in the 13 weeks ending March 29, 2026. The prospectus also showed that, around the time Blackstone took control of Jersey Mike\u2019s, the company transferred an aircraft to an entity controlled by Peter Cancro for about $41 million. <\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=1708\">Fire Set At NYC Building Housing ICE Being Investigated As \u2018Anti-Government Attack\u2019<\/a><\/p>\n<h2>big number<\/h2>\n<p>20. That\u2019s how many consecutive years Jersey Mike\u2019s has posted positive sales growth at locations open at least a year, according to the filing. <\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=1707\">Trump Vows Netanyahu Won\u2019t Be Arrested After Mamdani Suggests Capture In NYC<\/a><\/p>\n<h2>key background<\/h2>\n<p>Jersey Mike\u2019s\u2014then known as Mike\u2019s Subs\u2014was founded in 1956 as a single location in Point Pleasant, New Jersey, before Peter Cancro expanded on its business in the 1980s. The sandwich chain has since grown to more than 3,000 domestic locations and more than $4 billion in annual sales. Blackstone announced in November 2024 it reached an agreement with Jersey Mike\u2019s to acquire a majority stake in the firm for about $8 billion.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=1705\">FIFA Crops Trump Out Of World Cup Photo\u2014White House Adds Him Back In<\/a><\/p>\n<h2>further reading<\/h2>\n<p><span><span>Forbes<\/span><span>Jersey Mike\u2019s IPO Filing Reveals $50 Million In Pay For A Stepson, A $41 Million Aircraft And A Family On Payroll<\/span><small>By <span>Antonio Peque\u00f1o IV<\/span><\/small><\/span><span><\/span><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The sandwich chain plans to list on the New York Stock Exchange under the \u201cJMKE\u201d ticker.<\/p>\n","protected":false},"author":1,"featured_media":1709,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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