RaceTrac Acquires Potbelly in $566 Million All-Cash Deal
September 10, 2025
RaceTrac, a convenience store operator headquartered in Atlanta, has agreed to acquire Potbelly, the sandwich shop chain founded in Chicago, in an approximately $566 million all-cash transaction. The deal will be structured as a tender offer through a wholly owned subsidiary, and is expected to close in the fourth quarter of 2025 pending regulatory approvals and customary closing conditions.
- Buyers
- RaceTrac
- Targets
- Potbelly
- Industry
- Restaurants & Hospitality
- Location
- Illinois, United States
- Transaction Type
- Buyout
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