Jersey Mike’s Subs announced a franchise deal with JM Submarines UK LTD to open 400 stores in the UK and Ireland in the coming years. It marks the first European expansion for the company, and the first location is set to open later this year.
The deal was led by Jersey Mike’s founder and chairman of the board, Peter Cancro, who remains a significant shareholder following the company’s sale to Blackstone last year. He is also CEO of JM Submarines UK LTD.
Cancro founded Jersey Mike's Subs in 1975, when at 17 years old, he purchased the first Mike's Subs shop in Point Pleasant, New Jersey. The sub shop had been in business since the 1950s when he took it over and grew the brand to more than 3,000 stores. He served as Jersey Mike's CEO for nearly 50 years before transitioning to chairman in April 2025.
"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," says Cancro. "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."
