Potbelly Announces 40-Shop Agreement with Royal Restaurant Group
30 Outubro 2023 - 10:05AM
Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood
sandwich shop, today announced the completion of a 40-unit
agreement with Royal Restaurant Group, a national franchise group
that successfully operates restaurant locations for global brands.
The agreement will involve the future development of 36 Potbelly
shops in markets across both Ohio and Florida. As part of the deal,
Potbelly will also refranchise four locations in the greater
Columbus, Ohio region.
“We’re delighted to have Royal Restaurant Group join the
Potbelly system and further our growth in several key areas of the
U.S.,” said Bob Wright, President and CEO of Potbelly. “The Royal
Restaurant Group team knows what it takes to successfully develop
and operate franchise locations for large-scale restaurant brands,
and they share our values of leading with respect and integrity
while prioritizing high-quality and great customer service. I have
no doubt their expertise will benefit our company and help support
our long-term goals.”
The co-founders of Royal Restaurant Group collectively have over
60 years of combined experience in the restaurant, hospitality and
multi-unit franchise industries, and they previously served as the
CEO and Chief Operating Officer of Wendy’s largest franchisees with
over 230 units throughout the United States. Their stated mission –
to be a compelling place to work and dine by consistently serving
customers with high quality, great tasting and affordable food in
clean, family-friendly restaurants – resonates with the Potbelly
executive team. Founded in early 2023, the group currently operates
24 Burger King restaurants in the greater Jacksonville, Florida
metropolitan area and has dramatically improved their units’ sales
and operating performance since acquiring the restaurants earlier
this year.
“We’ve always been fans of Potbelly, and we’re thrilled to be
formally working together with the team as we bring the brand to
new areas of the country,” said Randy Pianin, Co-founder and CEO of
Royal Restaurant Group. “Our first priority at any of our
restaurants is to establish a strong foundation centered around
quality, taste and value. We look forward to serving up Potbelly’s
iconic toasted sandwiches, soups and cookies to more diners and
continuing the brand’s tradition of providing excellent service and
atmosphere in the years ahead.”
As part of Potbelly’s ongoing Franchise Growth Acceleration
Initiative, the company has a long-term goal of reaching 2,000
shops, with at least 85% of those locations being franchised.
You can learn more about franchise opportunities with Potbelly
at https://www.potbelly.com/franchising-why-potbelly.
About PotbellyPotbelly Corporation is a
neighborhood sandwich concept that has been feeding customers’
smiles with warm, toasty sandwiches, signature salads, hand-dipped
shakes and other fresh menu items, customized just the way
customers want them, for more than 40 years. Potbelly promises
Fresh, Fast & Friendly service in an environment that reflects
the local neighborhood. Since opening its first shop in Chicago in
1977, Potbelly has expanded to neighborhoods across the country -
with more than 430 shops in the United States including
approximately 69 franchised shops in the United States. For more
information, please visit our website at www.potbelly.com.
Forward Looking StatementsThis press release
may contain statements that might be considered forward-looking
statements or predictions of future operations including with
respect to the shop development agreement with Royal Restaurant
Group, Royal Restaurant Group’s ability to benefit Potbelly and
Potbelly’s ability to successfully execute on its Franchise Growth
Acceleration Initiative. Such statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and are based on management’s belief or interpretation
of information currently available. These statements and
assumptions involve certain risks and uncertainties. Actual events
may also differ from these expectations as a result of the risks
identified from time to time in our filings with the Securities and
Exchange Commission. We assume no duty to update these statements
as of any future date.
Contact:Investor RelationsJeff
PriesterICR332-242-4370investor@potbelly.com
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