In partnership with
Friends of Branded!
Happy Saturday and I hope you had a great week.
It was announced this week that Potbelly Sandwich Shop has been acquired by RaceTrac, one of the largest privately held convenience store retailers in the US in an all-cash deal for $566mm (I always believe it’s important to highlight all-cash transactions. No stock, cash-money!). 😊
Why does this $500+ million M&A deal fire me up? Great question. Let’s go!
I find this acquisition quite simply to be one of the boldest and statement making examples of the blurring of the lines and convergence taking place in our industry. The hospitality industry is moving away from the long-established segmentation by verticals and the opportunities this is creating are awesome. Operators & investors - if you take only one thing away from this week’s Top of the Fold, it’s that the lines that separate restaurant & foodservice verticals are being redrawn.
RaceTrac buying Potbelly isn’t just a financial transaction, it’s a symbol of how the “boundaries” between what used to be clear and distinct food channels are eroding. Your guests are no longer drawing a hard line between a “restaurant visit” and a “c-store stop.” With this acquisition, RaceTrac didn’t just buy some menu items to add to its shelves, they bought a brand! Potbelly carries an identity, a loyalty program, a neighborhood vibe, and a digital ecosystem — and RaceTrac just accelerated something all brands need to be mindful of, a “channel-less” future.
This week on the Hospitality Hangout, we sit down with Steve Kislow—CEO of Firebirds Wood Fired Grill—for an inside look at what it takes to scale a modern restaurant brand without losing sight of its roots. From menu innovation and guest experience to team culture and operational excellence, Steve breaks down the strategies driving Firebirds’ growth and the key industry trends shaping the future of casual dining.
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How 433 Investors Unlocked 400X Return Potential
Institutional investors back startups to unlock outsized returns. Regular investors have to wait. But not anymore. Thanks to regulatory updates, some companies are doing things differently.
Take Revolut. In 2016, 433 regular people invested an average of $2,730. Today? They got a 400X buyout offer from the company, as Revolut’s valuation increased 89,900% in the same timeframe.
Founded by a former Zillow exec, Pacaso’s co-ownership tech reshapes the $1.3T vacation home market. They’ve earned $110M+ in gross profit to date, including 41% YoY growth in 2024 alone. They even reserved the Nasdaq ticker PCSO.
The same institutional investors behind Uber, Venmo, and eBay backed Pacaso. And you can join them. But not for long. Pacaso’s investment opportunity ends September 18.
Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
The Branded team is officially counting down to Orlando—because FSTEC is almost here, and this year is bigger than ever.
We’re back for our 5th year as a proud partner and sponsor, and we’re bringing the energy:
🎙️ Pop-Up Podcast Studio – In partnership with Amazon Business, we’ll be live on the Marketplace floor with some of the most innovative voices in hospitality.
📺 DIRECTV Digital Lounge – Back by popular demand to keep the entertainment flowing.
🍸 Cocktails & Connections – Our signature networking event returns with our friends at Adyen, Amazon Business, Toast, and Ziosk.
⭐ Hospitality All STARS – Brand new this year! Our playful spin on the Hollywood Walk of Fame, created with our partners at CBS Northstar, celebrating the industry’s movers and shakers.
Massive thanks to Aharon Shamash, Joe Donnelly, Chris Keating, Marcus Viscidi, and the entire Informa team for curating one of the most important gatherings in hospitality tech.
📍 Headed to Orlando? Drop us a note—we’d love to connect at FSTEC!
💰 Meet the 19 richest sports team owners in America and see who’s quietly worth more than most franchises.
☕ Starbucks is turning to data and AI to make your latte feel a little more personal.
🥃 The 2025 Pappy Van Winkle lineup just dropped and it includes a history-making bottle.
🥒 Are fermented foods really the key to gut health or just another wellness fad?
🇫🇷 The White Lotus might be moving to France and fans are already guessing who won’t survive.
Copia is transforming food waste into a profitable, scalable solution: they are quickly becoming the standard for surplus food recovery.
CEO Kimberly Smith is a 20-year veteran in data and analytics who’s leading Copia to reshape how businesses donate food while unlocking real ROI, ESG wins, and tax savings.
The company’s impact is undeniable:
🥧 Trusted by national brands like The Cheesecake Factory and Ritz-Carlton.
🚚 Logistics powered through partnerships with DoorDash.
🌍 Operating across 43+ states, Canada, and Puerto Rico with 115 customers spanning 615+ locations.
💧 Every quarter, Copia helps save 392,000+ pounds of food, divert 1.2M+ pounds of CO₂, and conserve 90M+ gallons of water.
💡 A seamless platform with a 99.5% donation success rate and 95% customer retention.
This is your chance to back a company driving measurable impact for people, planet, and profit.
Don’t just scroll—click! Congratulate everyone on making the B List and send some LinkedIn love their way.
Industry Intel
@hospitality.hangout How long do you have to live in New York to be able to call yourself a New Yorker? Is it 8? Is it 10? #Newyorker
That’s it for today!
See you next week, same bat-time, same bat-channel.
It takes a village!
Jimmy Frischling
Branded Hospitality
235 Park Ave South, 4th Fl | New York, NY 10003
Branded Hospitality is a foodservice growth platform with three integrated business lines—Ventures, Solutions, and Media. We invest in innovative tech and emerging brands, provide expert advisory and capital strategies, and amplify visibility through podcasts, newsletters, social, and events—creating a powerful flywheel that drives growth, brand strength, and lasting success.
