Potbelly is being acquired by gas station and convenience chain RaceTrac for $566 million

Potbelly is being acquired by gas station and convenience chain RaceTrac for $566 million 8 mins ago Sandwich maker Potbelly is being acquired by the gas station and convenience story chain RaceTrac for $566 million. Potbelly, which was founded in Chicago in 1977, has 445 restaurants across the U.S. The company said the deal with RaceTrac will help it reach its goal of quadrupling in size to 2,000 stores. Potbelly shares jumped 32% Wednesday. RaceTrac, which is based in Atlanta, operates more than 800 convenience stores in 14 states. RaceTrac was founded in 1934 and is family owned. The Atlanta company operates more than 800 locations in 14 states. RaceTrac said it will acquire all of Potbelly’s shares for $17.12 per share in an all-cash deal.