PBPB - Potbelly Announces 40-Shop Agreement with Royal Restaurant Group | Benzinga
CHICAGO, Oct. 30, 2023 (GLOBE NEWSWIRE) -- 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 ...