PBPB - Potbelly signs development agreement with founder Bryant Keil

2023-07-19 10:09:07 ET

Potbelly ( NASDAQ: PBPB ) finalized a 27-shop agreement in Maryland with the company’s founder Bryant Keil and his son Hampden.

The agreement grants Mr. Keil exclusive territory rights in seven Maryland counties to develop 15 new Potbelly shops in the next eight years.

Additionally, Potbelly will refranchise 12 existing restaurant locations as part of the transaction.

Bob Wright, President and CEO commented, “He oversaw years of incredible expansion for our brand, and we look forward to him accelerating our growth momentum in Maryland as we continue to execute our strategic franchise and growth strategy across the U.S. Along with refranchising several of our existing shops, this agreement will extend Potbelly’s presence in central and southern regions of the state over the next decade, giving residents and visitors more access to our delicious food.”

For further details see: