Largest locally based public company to be acquired

Welcome to Friday, LinkedIn community. Let's start with some big news on the local tech scene.

Folsom-based education software company PowerSchool has agreed to be acquired by Bain Capital in a deal that values the company at $5.6 billion.

PowerSchool shareholders will get $22.80 per share at the close of the proposed transaction, expected in the second half of the year.

PowerSchool is the largest locally based public company.

Learn more in this article by reporter Mark Anderson .

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Rubio's closes remaining Sacramento-area restaurants

Rubio's Coastal Grill has closed its five remaining sites in the Sacramento area , according to the Mexican restaurant chain's website.

The website says "location closed" for two Rubio's restaurants in Roseville, and one location each in Rancho Cordova, Elk Grove and Natomas.

In an email to the Business Journal on May 31, the company said it decided to close 48 "underperforming" locations in California, as of that day.

Rubio's Restaurants Inc. later announced it filed for Chapter 11 bankruptcy as a step toward selling the business.

Walmart plans $6 million remodel of local store

Walmart Inc. is planning to remodel its Folsom Supercenter store and bolster its online grocery pickup experience for customers.

The Bentonville, Arkansas-based retail giant is seeking approvals to construct a new 3,500-square-foot wing to the southwest of its current building at 1018 Riley St. that would be dedicated to its online grocery pickup service, along with other updates to the store.

The work is valued at approximately $6 million, according to Folsom records. Read more

Placer County mourns two business leaders

Two Placer County business leaders recently died: Auburn Chamber of Commerce CEO Jackie Weston and political consultant Aldo Pineschi Jr.

Jaclyn “Jackie” Weston, the CEO of the Auburn Chamber of Commerce, died in a hospital over the weekend after a sudden illness. She was 40.

Known as a tireless volunteer, Weston took over as interim director of the Auburn Chamber of Commerce in 2020 during the first months of the pandemic. She had been CEO of the chamber for the past three years. Read more

Aldo Pineschi Jr. was one of the most powerful people in Placer County — but you probably wouldn't know it, according to his friends and colleagues.

Former Roseville Mayor Carol Garcia remembers Pineschi wearing a baseball cap and sitting inconspicuously in the City Council chambers. An outside observer might never guess that Pineschi was an influential political consultant — and, in Garcia's words, a man who "ran Placer County."

Pineschi, 66, died May 28. He was diagnosed with inoperable Stage 4 stomach cancer in July 2023, according to his family. Read more

Your weekly restaurant roundup

Here are some of this week's biggest headlines from food and drink reporter Jacob Abbott .

First: Saigon Alley Kitchen + Bar is expanding to Folsom, where it will fill a space at Broadstone Marketplace recently vacated by Noodles & Company. Read more

Also: Pedal Car Pizza & Gelato is joining Vernon Street in downtown Roseville. The fast-casual restaurant will specialize in wood-fired Neapolitan-style pizza and offer 12 flavors of gelato, in addition to beer and wine. Read more

Also: The owners of Lake Crest Village in Sacramento's Pocket area have filed a lawsuit attempting to evict restaurant tenant Shari's. Read more

Thanks for reading our Weekly Edition, which was compiled by Managing Editor Sonya Sorich . Send feedback and news tips to [email protected] .