This episode is sponsored by Uber Direct.
Even after a year of hints that a deal might be in the works, Monday’s announcement of a change in control at Jersey Mike’s was a stunner, particularly for anyone who’s kept close watch on the sandwich chain. Few decisions of import have been made without the active involvement of owner Peter Cancro, the sixtysomething who’s been running the operation since he was 17. What happens now, with a sharp-penciled co-owner having a loud say on the brand’s direction?
The answer is suggested in both Jersey Mike’s history and accounts of past private-equity mega-deals. This week’s edition of Restaurant Rewind, a podcast that plumbs the past for color on what’s happening in the industry today, zeroes in on those indicators.
The episode looks at Cancro’s leadership style and speculates about how that might mesh with oversight from the world’s largest private-equity firm. Give a listen for a deeper understanding of one of the biggest deals in the industry’s history.
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