Potbelly Sandwich hires banks for 2013 IPO: sources

NEW YORK Fri Nov 2, 2012 2:49pm EDT

NEW YORK (Reuters) - Potbelly Sandwich Shop, a restaurant chain that sells submarine sandwiches and shakes, has hired bankers for a potential initial public offering next year, according to people familiar with the matter.

Potbelly, whose backers include Starbucks Corp (SBUX.O) founder Howard Schultz and private equity firm American Securities, has selected Goldman Sachs Group (GS.N) and Bank of America (BAC.N) to lead its planned IPO, two of the people said.

The Chicago-based chain, known for its vintage decor and live music, has over 260 shops around the United States, according to its website. In 2011, the chain expanded internationally by opening in Dubai.

The people asked not to be named because the discussions are not public. Potbelly could not be immediately reached for comment. Bank of America, Goldman Sachs and American Securities declined to comment.

Founded in 1977 by its chairman, Bryant Keil, Potbelly has roughly $250 million in revenue, one of the people said.

(Reporting By Olivia Oran; Editing by Leslie Adler)

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