Wed Nov 20 15:50:00 UTC 2024: ## Blackstone Buys Majority Stake in Jersey Mike’s for $8 Billion
**NEW YORK –** Private equity giant Blackstone has acquired a majority stake in Jersey Mike’s Subs for a reported $8 billion, marking another major investment in the restaurant sector following its earlier acquisition of Tropical Smoothie this year. This significant investment highlights the continued strong interest in the fast-casual sandwich market.
In other restaurant news, McDonald’s is facing espresso machine issues after supplier Melitta decommissioned its machines due to a potential safety risk, adding to ongoing challenges following previous ice cream machine problems. Meanwhile, Wendy’s has appointed Kenneth Cook as its new CFO, bringing in experience from UPS. And finally, Pizza Hut is branching out, launching its own basil-infused tomato wine in partnership with a Kansas winery, designed to complement its pizzas. For more restaurant industry headlines, tune into today’s Restaurant Daily podcast.
First Piper 