US convenience store operator RaceTrac has agreed to buy compatriot Potbelly, a sandwich chain, in a $566m deal. RaceTrac will make a tender offer to purchase all outstanding shares of Potbelly at $17.12 each. The offer price reflects a premium of 47% based on Potbelly’s 90-day volume-weighted average price as of 9 September 2025. Potbelly’s board of directors has unanimously recommended shareholders to tender their shares, and company directors and executive officers, whose shares constitute around 11% ...

Jeremy Hamblin from Craig-Hallum set a price target of $17.12 for Potbelly Corporation (NASDAQ:PBPB), indicating a slight potential increase from its current price.RaceTrac's acquisition of Potbelly for $566 million marks its entry into the restaurant industry, aiming to expand its food service offerings.Following the acquisition announcement, Potbelly's stock surged by over 30%, reflecting investor optimism towards the deal.On September 10, 2025, Jeremy Hamblin from Craig-Hallum set a price target of $17.1 ...

Fast Company Innovation Festival Ticket Giveaway—Enter now! LOGIN | FastCo Works advertisement BYÂ Associated Press Listen to this ArticleMore info 0:00 / 0:00 Sandwich maker Potbelly is being acquired by the gas station and convenience store chain RaceTrac for $566 million. Potbelly, which was founded in Chicago in 1977, has 445 restaurants across the U.S. The company said the deal with RaceTrac will help it reach its goal of quadrupling in size to 2,000 locations. Potbelly stores are both company- and fra ...

Potbelly is set to be acquired by convenience store company RaceTrac in a deal valued at $566 million, the companies announced on Wednesday, Sept. 10. The acquisition is set to close later this year. Until then, the companies will continue to operate independently, according to the announcement news release. Known for its array of sandwiches, Potbelly is a nationwide restaurant chain with 445 locations across the United States, including more than 100 franchised shops. Bob Wright, Potbelly's president a ...

Sandwich maker Potbelly is being acquired by the gas station and convenience story chain RaceTrac for $566 million. Potbelly, which was founded in Chicago in 1977, has 445 restaurants across the U.S. The company said the deal with RaceTrac will help it reach its goal of quadrupling in size to 2,000 locations. Potbelly stores are both company- and franchise-owned. “With RaceTrac’s resources, we will unlock new opportunity for this incredible brand while staying true to the neighborhood sandwich shop exper ...

公司管理层变动 - 前Togo's三明治首席执行官Glenn Lunde已回归并重新担任该连锁品牌的首席执行官[7] - 去年Matt Dowling从首席财务官转任首席执行官 但目前已退休 现任首席财务官为Farhan Jalil[7] - Lunde此前曾领导该三明治品牌五年 帮助提升其在竞争激烈的快速休闲领域的地位[7] 发展战略与运营重点 - 公司将推动忠诚度计划改进 并增强数字和配送能力[3] - 连锁品牌将推动更多特许经营增长并计划进入新市场[3] - 自2018年以来特许经营商一直专注于将门店改造为30 Speedline模式 采用该模式的门店平均单位销售额更高[5] 门店网络与扩张计划 - 目前在西海岸和西南部拥有170家开业或开发中的门店[3] - 2024年门店数量从2022年初的169家下降至150家 其中特许经营门店减少13家 公司直营门店增加3家[4] - 公司预计今年将开设6家特许经营门店[4] - 去年在加利福尼亚州、内华达州和华盛顿州开设了少量门店[3]

You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. Potbelly Sandwich Works has been acquired by RaceTrac, an Atlanta-based company that operates more than 800 convenience stores across 14 states under the RaceTrac® and RaceWay® brands. As part of the definitive merger agreement, RaceTrac will commence a tender offer to 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 ...

纪要涉及的公司 - Restaurant Brands International（RBI）旗下品牌包括Tim Hortons、Burger King、Popeyes、Firehouse Subs [1][3][4] 纪要提到的核心观点和论据 公司业务表现与机会 - **Tim Hortons**：是RBI最大业务，团队表现出色，食品、服务速度和餐厅状况不断改善，在加拿大市场份额高，超70%咖啡在上午售出，近30天80%加拿大人有消费，PM时段业务增长机会大，类似麦当劳拓展早餐业务，未来有望凭借品牌优势持续增长 [3][4][57][59] - **国际业务**：表现优于同行，未来增长不仅来自Burger King，Popeyes贡献将增加，如法国市场找到优秀合作伙伴，业务增长迅速，餐厅新形象占比超80%，数字业务占比超60% [5][69][70][72] - **北美Burger King**：是待改善业务，但已取得进展，过去六个季度中有五个季度表现相对出色，目前超50%餐厅已翻新，翻新回报率良好，目标是到2028年底翻新率达85% [8][43] - **Popeyes**：品牌出色，全球增长快，EBITDA是2018年收购时的四倍，目前单位经济效益良好且不断提升，国内业务机会在于餐厅执行，提升服务速度和准确性 [8][9][80][81] - **Firehouse Subs**：规模相对较小但门店增长加速 [9][25] 加盟商盈利能力与目标 - 作为特许经营商，目标是为加盟商创造良好投资回报，部分品牌表现良好，如Tim's回报率高，Popeyes在改善，Burger King在进步但仍需几年时间达到目标，目标是Popeyes和Burger King现金流达30万美元，实现五到六年回本 [12][13][14] 消费者与行业状况 - 只要就业水平保持健康，餐厅行业就状况良好，就业是影响餐厅行业健康的关键因素，如疫情期间Tim's业务受影响，因部分业务在上午且依赖上班人群 [18][19] 业务发展规划 - 到2028年实现5%增长，需北美净增400家门店（Tim's有增长机会，Burger King趋于稳定，Firehouse加速，Popeyes保持一定规模），国际其他地区净增1100家门店（Popeyes贡献增加），中国市场需恢复到每年新增300多家门店水平 [21][23][26] 品牌管理与策略 - **Burger King中国**：因原土耳其合作伙伴受疫情影响未在当地，业务下滑，RBI收回控制权，目标是一年内找到新合作伙伴，目前业务有改善迹象 [32][33][34] - **Burger King美国**：注重寻找优秀运营商，强调本地所有权重要性，对加盟商进行绩效评估，推动餐厅翻新，如处理Carol's案例，确保餐厅运营良好 [36][37][38] 业绩表现驱动因素 - Burger King相对表现出色的主要驱动因素是餐厅运营改善和资产基础提升，即餐厅运营更好、外观更美观，未来营销和数字、AI方面也有积极发展 [52][53] 市场认知与股票表现 - 未来几年股票表现需实现8%或更高的运营收入增长，并解决美国Burger King业务疑问，若能持续实现8%以上增长，市场将对公司故事更感兴趣 [86][87][88] 实现8%运营收入增长的信心来源 - 全球实现3%的同店销售增长是可实现的，通过数字化带来自然客单价增长，控制成本结构，如G&A费用已得到有效管理，目前约6亿美元，未来在保守基础上增长，实现8%运营收入增长并非难事 [89][90][91] 其他重要但是可能被忽略的内容 - Popeyes本周推出鸡肉卷，社交媒体反响良好，但仅推出几天，后续表现有待观察 [82] - RBI目前无意近期收购新品牌，需先证明现有四个品牌在RBI旗下能创造更多价值 [84]

公司业绩表现 - 公司报告季度每股收益为盈亏平衡，超出Zacks共识预期的每股亏损0.02美元，去年同期为每股收益0.01美元 [1] - 季度业绩超出预期100%，上一季度实际每股收益0.13美元，超出预期116.67% [1] - 过去四个季度中，公司四次超出共识每股收益预期 [2] - 季度收入为1.1368亿美元，超出共识预期0.96%，去年同期为1.1115亿美元 [2] - 过去四个季度中，公司三次超出共识收入预期 [2] 股价表现与市场比较 - 公司股价年初至今下跌10.4%，同期标普500指数下跌4.7% [3] - 当前Zacks评级为3（持有），预计股价将与市场表现一致 [6] 未来业绩预期 - 下一季度共识预期为每股收益0.08美元，收入1.232亿美元 [7] - 当前财年共识预期为每股收益0.21美元，收入4.792亿美元 [7] - 业绩预期修订趋势目前呈现混合状态 [6] 行业表现 - 所属行业（零售-餐饮）在Zacks行业排名中处于后20% [8] - 行业排名前50%的行业表现优于后50%的行业，差距超过2:1 [8] 同业公司比较 - 同业公司Meritage Hospitality Group预计季度每股亏损0.51美元，同比变化-563.6% [9] - 过去30天内，该公司季度每股收益预期上调42.1% [9] - 预计季度收入为1.545亿美元，同比下降5.1% [10]