Chicago — Potbelly Corporation, an iconic neighborhood sandwich shop concept, and RaceTrac, Inc., one of the largest privately held companies in the United States and a leading convenience retailer, have entered into a definitive merger agreement in which RaceTrac will acquire all of the outstanding shares of Potbelly for $17.12 per share, in an all-cash transaction with an equity value of approximately $566 million. The acquisition is expected to close in the fourth quarter of 2025, subject to the satisfaction of customary closing conditions and regulatory approvals. Until the transaction …
restaurants
Campbell, Calif. — TOGO’S Sandwiches, a beloved West Coast sandwich chain, has reaffirmed Glenn Lunde as its chief executive officer. Lunde’s leadership has been instrumental in strengthening the brand’s position in the competitive fast-casual market, and he will continue driving the company’s growth and strategic direction. With Lunde at the helm, TOGO’S will advance several key priorities in the years ahead. These include enhancing loyalty programs, expanding digital and delivery capabilities and driving continued franchise growth. He will collaborate closely with the leadership team and franchise partners to ensure TOGO’S …
San Diego — On the heels of a record-breaking year of growth and franchise development, QDOBA, America’s rapidly growing #2 restaurant brand in the Mexican fast-casual category, has signed one of the largest development deals in brand history. Barry Dubin of B Wild Investments, LLC has signed on to develop 50 new QDOBA restaurants across the states of Alaska, Utah, Nevada, Colorado and New Mexico. Initially, Dubin plans to focus on locations in Salt Lake City, St. George, Albuquerque, Las Vegas, and areas surrounding Colorado Springs. Additionally, B Wild Investments …
Manasquan, N.J. — Jersey Mike’s Subs has appointed Stacy Peterson as president and chief operating officer. Peterson is a restaurant industry veteran who has led revenue-driving initiatives in various leadership roles, including at fast-growing global brands. In her new role, Peterson will lead Jersey Mike’s U.S. operations and oversee marketing and technology, drawing on her extensive experience to drive innovation and operational excellence, accelerate digital transformation and strengthen the company’s leadership in the marketplace. “As we continue to build out our strategic growth plan to support global expansion, I am …
Self-Performing Providers Deliver Consistent, Reliable Service
One of the biggest challenges that retailers and restaurants face is finding a reliable, single-source facility repair and maintenance partner who has the scope, expertise and capacity to maintain and repair operationally vital systems in multiple locations. When those store and restaurant operators have locations spread across states and regions with varying building, health, fire and safety codes, the difficulty is only compounded, says Thomas Navarro, vice president of business development for Colt Facility Maintenance. The Dallas-based repair and maintenance organization, also known as a self-performing provider, specializes in servicing …
Los Angeles — Sweetgreen, Inc. has announced the retirement of Mitch Reback and the appointment of Jamie McConnell as the company’s chief financial officer. Reback’s retirement will be effective Sept. 21, 2025, and McConnell’s appointment will be effective Sept. 22, 2025. Reback will remain engaged with the company in an advisory role for 6 months to support the transition. McConnell joins the company from Chipotle. Reback had served as chief financial officer of Sweetgreen since 2015. He joined the company in its early stages, when it was a fast-growing regional …
Kansas City — The Big Biscuit, a modern All-American breakfast and lunch franchise concept, has named Alexandra (Alex) Clark as its vice president of finance. She joins the team from Jefferson’s, a fast-growing full-service restaurant concept. Clark brings more than 30 years of accounting and financial leadership experience, including two decades focused on the restaurant franchising sector. She most recently served as vice president of finance at Jefferson’s, where she oversaw financial planning and systems. Before that, she was chief financial officer for Goodcents Deli Fresh Subs, where she guided …
Los Angeles — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger, Johnny Rockets, Round Table Pizza and 15 other restaurant concepts, announces the return of Andrew (Andy) Wiederhorn as chief executive officer. Effective Sept. 3, Ken Kuick will be exclusively focused on his roles as chief financial officer of FAT Brands and Twin Hospitality Group Inc., and Taylor Wiederhorn will continue to serve as chief development officer. Kuick and Taylor Wiederhorn had been serving as co-CEOs of FAT Brands. “I am grateful to both Ken and Taylor for …
Minneapolis — Caribou Coffee, a leading specialty coffee retailer, has appointed Scott Kennedy as president and chief executive officer, effective immediately. Kennedy previously served as chief financial officer and was appointed to the role of interim CEO in March 2025. “I am delighted to announce Scott’s appointment as president and CEO of Caribou Coffee. I am confident Scott’s focus on building a winning team and culture along with delivering exceptional guest experiences in our Caribou coffeehouses everyday will help make this great brand a great business,” says José Cil, chairman …
Plantation, Fla. — Twin Hospitality Group Inc., the parent company of Smokey Bones, has appointed Ken Brendemihl as president of Smokey Bones, effective immediately. He has over 25 years of restaurant leadership experience, most recently as chief operating officer of Alamo Drafthouse. Prior to that, he held key leadership roles at Velvet Taco, California Pizza Kitchen, Texas Roadhouse and On the Border. “Smokey Bones is a beloved brand that has amassed a loyal following over the years,” says Kim Boerema, CEO of Twin Hospitality Group. “Since joining Twin Hospitality, we …