Peter Cancro

Peter Cancro is the founder and former CEO of Jersey Mike’s Subs, a sandwich chain that grew from a single shop in New Jersey to a multibillion-dollar global franchise. His entrepreneurial journey began in 1971 when, at age 14, he took a part-time job at Mike’s Subs in Point Pleasant, New Jersey. By 17, with a $125,000 loan backed by his high school football coach—who was also a banker—Cancro purchased the shop in 1975, becoming its owner before he was legally old enough to slice a sub.

Cancro rebranded the business as Jersey Mike’s in 1987 and began franchising, emphasizing a culture of quality, customer connection, and community involvement. He introduced a program to help store managers become franchise owners, fostering entrepreneurship within the company. Under his leadership, Jersey Mike’s expanded to over 3,500 locations across the U.S., Canada, and Mexico, generating $3.7 billion in U.S. sales in 2024.

In November 2024, Cancro sold a majority stake in Jersey Mike’s to private equity firm Blackstone for $8 billion, one of the largest restaurant deals in recent history. He retained a 10% ownership stake and transitioned to the role of chairman.

Beyond business, Cancro is known for his philanthropic efforts. Since 2011, Jersey Mike’s has raised over $67 million through its annual “Day of Giving” campaign, supporting local charities and organizations nationwide.