Potbelly is about to get a new home! Convenience store giant RaceTrac is scooping up the beloved sandwich chain in a $565 million deal that was announced on Wednesday, September 10. The deal is expected to wrap up later this year, but in the meantime, both brands will continue to operate independently.
"With RaceTrac’s resources, we will unlock new opportunity for this incredible brand while staying true to the neighborhood sandwich shop experience that makes Potbelly special," Wright said in a statement shared by USA Today.
?SIGN UP for Parade's Daily newsletter to get the latest pop culture news & celebrity interviews delivered right to your inbox?
Racetrac's Acquisition of Potbelly Makes Sense
They argued that this Potbelly-Racetrac deal isn't just another corporate headline. Instead, it's a sign of where the convenience game is headed. Pairing a neighborhood sandwich staple with a convenience store powerhouse taps into what's becoming the holy grail of convenience retail: legit foodservice with a local, welcoming vibe.
View this post on Instagram
A post shared by Potbelly Sandwich Works (@potbelly)
What This Means for Potbelly Investors
This big move comes after a year of gains and losses for Potbelly, which closed at $7.66 per share on September 11, 2024. The company saw significant gains prior to the deal, closing at $12.93 just one day before the announcement.
Related: Craving a Sub or Hero? The 20 Best Sandwich Shops in the Country, Ranked
Hence then, the article about popular sandwich chain being acquired in major deal was published today ( ) and is available on Parade ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Popular Sandwich Chain Being Acquired in Major Deal )
Also on site :