RaceTrac's Purchase of Potbelly
RaceTrac spent millions to buy the sandwich chain Potbelly, completing the purchase on October 23. The deal, valued at $566 million, takes Potbelly Corp. private.
The Atlanta-based convenience retailer is betting that sandwiches can help fuel its future. Potbelly is known for its toasted submarine sandwiches, salads, and milkshakes.
However, don't expect sandwich shops at all RaceTracs. The company is expanding into food service, but it will not be implementing this change at all locations.
RaceTrac is betting sandwiches can help fuel its future.
RaceTrac has 439 locations, and the purchase of Potbelly is a significant step in its expansion into food service.
Author's summary: RaceTrac buys Potbelly for $566 million.
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