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CHICAGO-Potbelly Sandwich Works Inc. has raised $58 million and added seasoned retail food execs in support of expansion. Dan Fogarty, SVP of marketing, tells GlobeSt.com, the 110-unit locally based chain plans between 35 and 40 new units this year.

A new investor in the company, New York City-based American Securities Capital Partners LLC, provided $30 million. An additional $28 million has come from the chain’s existing stockholders. Fogarty says expansion will take place in existing markets this year, allowing units to “percolate” in those markets before reaching to new ones. Potbelly currently operates in Illinois, Indiana, Maryland, Michigan, Minnesota, Ohio, Texas, Virginia, Wisconsin and Washington, DC. Units range between 2,300 sf and 2,800 sf, he says.

Fogarty, a nine-year veteran of Chipotle, joined Potbelly in January. During his tenure with the Colorado-based Mexican chain, it grew from three units to 500.

Since January three former Starbucks executives have joined him at Potbelly. Arthur Rubinfeld, former EVP and chief development officer of Starbucks, has taken the same title at Potbelly. In his 10 years with the Seattle-based coffee chain, it grew from fewer than 100 units to more than 4,000 worldwide.

Jayson Tipp is named Potbelly’s VP of store development and analytics. As the former Starbucks’ director of portfolio strategy, Tipp introduced new concepts.

This month, Bill Sleeth was named Potbelly’s VP of store design. He founded Vizworks, a creative services agency, and was involved in developing retail environments for Starbucks. Prior to joining Potbelly, Rubinfeld, Tipp and Sleeth worked together at Seattle-based Airvision, an agency founded by Rubinfeld that specialized in brand positioning.

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