Jimmy John's Franchise is preparing for an initial public offering that could value the popular U.S. gourmet sandwich chain at more than $2 billion, including debt, according to people familiar with the matter.
Jimmy John's, which is owned by founder Jimmy John Liautaud as well as private equity firm Weston Presidio, is interviewing investment banks to serve as underwriters for an IPO that could come later this year, three people said.
Jimmy John's has annual earnings before interest, tax, depreciation and amortization of roughly $150 million, the people added.
The sources asked not to be identified because the deliberations are confidential. Representatives of Jimmy John's and Weston Presidio did not respond to requests for comment.