A company in Fort Worth bought a chain of convenience stores in New Mexico and west Texas.
Not for the real estate. Not for the fuel volume. Not for the market share.
For a burrito.
Specifically a deep fried burrito that has been sold in those stores for decades and that people in that part of the country talk about the way other regions talk about barbecue.
That sounds like a joke until you look at what happened next. The buyer began putting that burrito into its other stores, across states where nobody had ever heard of it, and building an expansion plan of roughly a hundred and thirty additional locations around the combined business.
So a regional snack became the centerpiece of a national growth strategy.
That is a genuinely interesting thing to happen, and the reasoning behind it explains something important about where value actually sits in a business.