RaceTrac's Acquisition of Potbelly
Convenience store operator RaceTrac has completed its purchase of sandwich chain Potbelly Corp. for $566 million, taking the company private.
The acquisition, announced in September, is part of RaceTrac's strategy to expand into food service. However, it's unlikely that all RaceTrac locations will feature sandwich shops.
Potbelly is known for its toasted submarine sandwiches, salads, and milkshakes. The Chicago-based chain will help fuel RaceTrac's future growth.
RaceTrac is betting sandwiches can help fuel its future.
- RaceTrac completed its purchase of Potbelly Corp. on Oct. 23
- The all-cash deal was valued at $566 million
- Potbelly is known for its toasted submarine sandwiches, salads, and milkshakes
Author's summary: RaceTrac acquires Potbelly for $566 million.
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