March 24, 2006
Howdy, Partner
J.P. Morgan Partners, a private equity affiliate of J.P. Morgan Chase, announced earlier this week that it will become an ownership partner in Quiznos. The sandwich chain has been on the auction block since December. In February, we reported that two private equity firms decided to pass on making an offer for Quiznos. Interestingly, J.P. Morgan will have an interest stake but is not buying out the chain. Terms of the agreement, however, were not disclosed. Quiznos Chairman and CEO Rick Schaden believes that J.P. Morgan “... is the ideal partner ...” and will help Quiznos “ ... leverage the strong and unique platform that Quiznos has put in place...”