{"id":146859,"date":"2025-09-10T16:00:10","date_gmt":"2025-09-10T16:00:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/146859\/"},"modified":"2025-09-10T16:00:10","modified_gmt":"2025-09-10T16:00:10","slug":"potbelly-acquired-by-racetrac-for-566-million","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/146859\/","title":{"rendered":"Potbelly acquired by RaceTrac for $566 million"},"content":{"rendered":"

Potbelly Sandwich Shop on October 3, 2015 in Louisville, Kentucky.<\/p>\n

Raymond Boyd<\/p>\n

Sandwich shop chain Potbelly<\/a> will be acquired by convenience-store operator RaceTrac in a $566 million all-cash deal, the company announced Wednesday.<\/p>\n

The deal is expected to close in the fourth quarter of the year. Shares of Potbelly shot up more than 30% following the announcement.<\/p>\n

The Chicago-based Potbelly has more than 445 stores in the U.S., including franchised locations, with a goal of reaching 2,000, according to the company. RaceTrac, a family-owned company headquartered in Atlanta, operates more than 800 convenience stores across 14 states.<\/p>\n

“RaceTrac’s strategic vision including their commitment to quality align perfectly with our mission to delight customers with great food and good vibes,” Potbelly CEO Bob Wright said in a statement. “We have positioned Potbelly for accelerated franchise-led growth in recent years, and this transaction fortifies our path while delivering certain and immediate value to our shareholders.”<\/p>\n

The deal will value Potbelly shares at $17.12 each, marking a roughly 47% premium to Potbelly’s price as of Tuesday. The company’s stock is up more than 75% this year.<\/p>\n

Wednesday’s deal is RaceTrac’s second significant acquisition, after its 2023 deal<\/a> to acquire Gulf Oil.<\/p>\n","protected":false},"excerpt":{"rendered":"Potbelly Sandwich Shop on October 3, 2015 in Louisville, Kentucky. Raymond Boyd Sandwich shop chain Potbelly will be…\n","protected":false},"author":2,"featured_media":146860,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[5786,448,28,122,157,2538,91022,4322,5682,21],"class_list":["post-146859","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-atlanta","tag-breaking-news-business","tag-business","tag-business-news","tag-chicago","tag-food-and-drink","tag-potbelly-corp","tag-restaurants","tag-retail-industry","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/146859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=146859"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/146859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/146860"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=146859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=146859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=146859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}