News

Jimmy John's gets new majority stakeholder

September 8, 2016

A franchise and consumer brand-based private equity firm is on board to buy majority interest in Jimmy John's Sandwiches. An affiliate of Atlanta-based Roark Capital Group signed a definitive agreement under undisclosed terms with Jimmy John's to get the deal underway, according to a news release.

The chain’s founder and board chair, Jimmy John Liautaud is staying on with the rest of leadership to guide strategy. He also remains the largest single shareholder. James North continues as president and CEO. However, previous partners and minority stakeholders, Weston Presidio, are leaving the brand. 

"We met Jimmy, James and the team when Jimmy John's had 500 units and that exact same team has grown the business to over 2,500 units today," said Main Post Partners Managing Partner Jeff Mills, whose partnership is part of Western Presidio, according to a news release. "Over our 10 years together, Jimmy John's has generated an outstanding return for Weston Presidio."

Upon completion of the transaction, Roark will acquire 56 franchise/multi-unit brands worth annual system revenues of approximately $23 billion through 25,000 locations, according to the news release. North Point Advisors served as exclusive financial advisor to Jimmy John's.