RaceTrac's Acquisition of Potbelly
RaceTrac spent millions to buy the sandwich chain Potbelly, but don't expect sandwich shops at all RaceTrac locations.
The Atlanta-based convenience retailer completed its purchase of Potbelly Corp. on October 23, taking the company private. The Chicago chain is known for its toasted submarine sandwiches, salads, and milkshakes.
The all-cash deal was valued at $566 million when announced in September. RaceTrac is betting that sandwiches can help fuel its future.
RaceTrac is betting sandwiches can help fuel its future.
Author's summary: RaceTrac acquires Potbelly for $566 million.
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