$8 Billion Deal

$1.1 Million in Cocaine Found Near US-Canada Border

A patrol near the Canadian border in Lynden, Washington yielded a significant drug bust last Thursday. Two backpacks containing approximately $1.1 million worth of cocaine were discovered and subsequently seized by U.S. Customs and Border Protection agents. The cocaine, totaling 30 brick-like packages, was transferred to the DEA. While no arrests have been publicly reported, the agency lauded the agents’ vigilance in preventing the narcotics from reaching communities.

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Jersey Mike’s $8 Billion Sale Sparks Fears of Price Hikes, Quality Decline

Private equity firm Blackstone has acquired a majority stake in Jersey Mike’s Subs for approximately $8 billion, marking the end of its independent run. Founder and CEO Peter Cancro will retain a significant equity stake and continue leading the company. This investment will fuel Jersey Mike’s expansion domestically and internationally, along with technological advancements. The deal follows Subway’s own sale to Roark Capital, making it the second-largest sandwich chain transaction in recent history.

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