Potbelly sold to RaceTrac for $566 million | NYGazet

Privately owned and operated RaceTrac is expected to close the Potbelly acquisition in the fourth quarter, pending shareholder and regulatory approval. The merger would pair two venerable but very different companies.

Potbelly is being gobbled up by RaceTrac, a southern convenience store brand, in a $566 million acquisition that will take the longtime Chicago-based sandwich chain private. The all-cash deal, announced Wednesday, will pay $17.12 per share for all ou... [3228 chars]