RaceTrac's Acquisition of Potbelly
RaceTrac, a convenience store operator, has completed its purchase of Potbelly Corp., a sandwich chain, for $566 million.
The acquisition, announced in September, is expected to help fuel RaceTrac's future growth, with Potbelly's toasted submarine sandwiches, salads, and milkshakes being a key addition.
However, it's unlikely that all RaceTrac locations will feature sandwich shops. The company is betting on the potential of sandwiches to enhance its offerings.
While the deal's specifics are not fully disclosed, it marks a significant investment by RaceTrac in the food service sector.
- RaceTrac is based in Atlanta
- Potbelly is a Chicago-based chain
- The all-cash deal was valued at $566 million
Author's summary: RaceTrac acquires Potbelly for $566 million.
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