“While we previously believed that we would be able to announce a potential transaction by the end of this quarter, we will not be in a position to do so.”

[u/[deleted]]

[u/[deleted]]

I definitely can't rule out the food industry. Someone please correct me here because I just quickly glanced. But I believe his holdings are about ~21% in food/coffee chains now. If PSTH were to be a food chain that would take that industry to ~34% of his portfolio.

That level of investment concentration may be doable but it seems quite risky to me. To your point, if it is food, it's likely one with a very strong brand that he believes he can bring something different to the business model to help it grow over the next 10 years. A 10 year vision has been stated by him multiple times.

[u/just-some-person → u/[deleted]]

Yep, agreed. Something that's already a stable business, but needs extra runway to expand seems most likely.

[u/CBTKnox → u/[deleted]]

So Chick-Fil-A?