**Potbelly to Be Acquired by RaceTrac for $566 Million**
Chicago-based sandwich chain Potbelly is set to be acquired by convenience store company RaceTrac in a deal valued at $566 million.
The acquisition is expected to be finalized later this year. Potbelly, founded over 40 years ago in Chicago, operates a total of 445 locations across the United States, including more than 100 franchised shops.
“RaceTrac’s strategic vision, including their commitment to quality, align perfectly with our mission to delight customers with great food and good vibes,” said Bob Wright, President and CEO of Potbelly.
RaceTrac is a major retailer with over 800 gas stations across 14 states operating under the RaceTrac and RaceWay brands. The company also owns approximately 1,200 Gulf-branded locations throughout the United States and Puerto Rico.
The acquisition is slated to close in the fourth quarter of 2025. Once completed, the deal will bring together two well-known brands under a shared vision of growth and customer satisfaction.
