With more than 2,000 sandwich-slinging stores across the country raking in some $2 billion a year in sales, Illinois-based Jimmy John’s seems like the perfect business to take public. But Jimmy John himself has decided against trying to cash in with an initial public offering. CEO, founder, and majority owner Jimmy John Liautaud tells Bloomberg that he had been considering going public for the last couple of years, but ultimately opted to keep things private for now. He likens the years of prep to making an entire Thanksgiving dinner and then tossing it in the trash “right before I was going to serve it.” In recent months, the company, which would have gone public with an estimated value of around $2 billion, had been putting together meetings about an IPO.
Comment on Jimmy John’s Jimmy John Decides Against Taking Sandwich Chain Public
Chris Morran, The Consumerist
Tue, 12/01/2015 - 10:53am
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