Core Insights - Bar Louie, a restaurant chain that filed for Chapter 11 bankruptcy in March, has been acquired by Sun Holdings, which also owns other popular restaurant brands [1][5] - Sun Holdings has expanded its portfolio with the addition of Bar Louie, which operates 39 locations across the United States [1][4] Company Overview - Bar Louie was founded in 1991 in Chicago and had 31 company-owned and 17 franchised locations across 19 states at the time of its bankruptcy filing [2] - The chain previously filed for bankruptcy in 2020 and was acquired by BLH TopCo during that process [2] Industry Context - The bankruptcy of Bar Louie is part of a broader trend in the restaurant industry, with several well-known brands, including Razzoo's Cajun Cafe and Bravo Brio Restaurants, also filing for Chapter 11 recently [3] - In 2018, Bar Louie had 130 restaurants, indicating a significant decline in its operational scale [3] Acquisition Details - The acquisition of Bar Louie is seen as a strategic move for Sun Holdings, enhancing its casual dining portfolio with Bar Louie's unique offerings [5] - The specific terms of the acquisition deal were not disclosed [5]

Core Viewpoint - Potbelly is being acquired by RaceTrac for $566 million, aiming to expand its locations from 445 to 2,000 [2][8]. Group 1: Acquisition Details - The acquisition price is set at $17.12 per share in an all-cash deal [8]. - The deal is expected to close in the fourth quarter of the year [8]. Group 2: Company Background - Potbelly was founded in Chicago in 1977 and currently operates 445 restaurants across the U.S. [2]. - RaceTrac, founded in 1934, is a family-owned company with over 800 locations in 14 states [8]. Group 3: Market Context - The restaurant industry has faced challenges due to the pandemic and rising inflation, impacting customer spending [4][5]. - Despite these challenges, Potbelly has seen rising profits and strong growth in its franchised businesses [4].