1851

<a href="https://1851franchise.com/franchise-deep-dive-potbelly-franchise-costs-fees-profit-and-data-2722532">Potbelly</a> has agreed to sell itself to&nbsp;<a href="https://www.racetrac.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=racetrac-acquires-potbelly-in-566-million-deal-2730223" target="_blank" rel="nofollow">RaceTrac</a>, one of the largest privately held convenience store operators in the United States,&nbsp;<a href="https://finance.yahoo.com/news/potbelly-corporation-acquired-racetrac-approximately-120000448.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=racetrac-acquires-potbelly-in-566-million-deal-2730223" target="_blank" rel="nofollow">in a $566 million all-cash deal</a>. Potbelly currently operates more than 445 restaurants, while RaceTrac runs 800 convenience stores and 1,200 Gulf-branded gas stations. The move is positioned as a way to help Potbelly reach its long-term goal of 2,000 units; the chain already has franchise commitments in place that could bring its footprint to over 800 locations.This acquisition caps off a notable turnaround for Potbelly. When CEO&nbsp;<a href="https://www.linkedin.com/in/robertdwright?utm_source=1851franchise.com&utm_medium=article&utm_campaign=racetrac-acquires-potbelly-in-566-million-deal-2730223" target="_blank" rel="nofollow">Bob Wright</a> took over in 2020, the company faced declining sales and financial uncertainty. Wright’s five-point plan refocused the brand on franchising, digital ordering and menu improvements while streamlining operations. Potbelly introduced its “Digital Kitchen” to handle online orders more efficiently and developed a smaller 1,800-square-foot store prototype to cut costs.&nbsp;RaceTrac plans to keep Potbelly as a standalone brand rather than folding it into its convenience stores. Analysts caution that risks remain, especially considering Potbelly is heavily concentrated in the Chicago market and the restaurant space in general continues to face challenges from labor costs and delivery fees. Additionally, despite strong franchise commitments, Potbelly has only opened a few new stores each quarter.This acquisition is the latest in a wave of franchise-sector M&amp;A activity in 2025. In June 2025,&nbsp;<a href="https://1851franchise.com/daves-hot-chicken-sold-to-roark-capital-in-1-billion-deal-to-fuel-global-expansion-2729557">Dave’s Hot Chicken was acquired by private equity firm Roark Capital</a> in a deal valued at $1 billion. Just last month,&nbsp;<a href="https://1851franchise.com/franchise-deep-dive-freddys-franchise-costs-fees-profit-and-data-2721554">Freddy’s Frozen Custard &amp; Steakburgers</a> changed hands when&nbsp;<a href="https://restaurantbusinessonline.com/financing/freddys-confirms-sale-rhone-private-equity?utm_source=1851franchise.com&utm_medium=article&utm_campaign=racetrac-acquires-potbelly-in-566-million-deal-2730223" target="_blank" rel="nofollow">Rhône Group purchased the Kansas-based fast-casual chain</a> for an enterprise value of around $700 million, with the agreement finalized in September 2025.Read the original press release&nbsp;<a href="https://finance.yahoo.com/news/potbelly-corporation-acquired-racetrac-approximately-120000448.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=racetrac-acquires-potbelly-in-566-million-deal-2730223" target="_blank" rel="nofollow">here</a>.&nbsp;Every great franchisee had help buying a franchise. Want to learn more about how 1851 helps franchisees find the right franchise opportunity? Visit&nbsp;<a href="http://www.1851growthclub.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=racetrac-acquires-potbelly-in-566-million-deal-2730223" target="_blank" rel="nofollow">www.1851growthclub.com</a> and start your journey.

RaceTrac Acquires Potbelly for $566M | National Expansion

1851 Franchise

The sandwich chain will remain a standalone brand under RaceTrac’s ownership as it aims to reach its 2,000-unit growth target.


Potbelly to be Acquired by RaceTrac in $566 Million Deal 

racetrac-acquires-potbelly-in-566-million-deal

Strategic Franchising

The Biggest Benefits of Owning a Home-Based Franchise

the-benefits-of-owning-a-home-based-franchise

Minuteman Press International

Minuteman Press Franchise Owner Tim Lorman (right) accepts Top Overall Performance Award.

Minuteman Press Franchise Review: Tim Lorman Talks Career Change From Real Estate to Printing in Denver, CO

minuteman-press-franchise-review-from-real-estate-to-printing-in-denver-co

Shuckin' Shack

Photo of Shuckin' Shack team member and guests in restaurant

Shuckin’ Shack Oyster Bar Enters Q3 With 3 Openings on the Horizon, Growing Buzz Around Upcoming Fresh & Raw Tour

shuckin-shack-2025-growth

Pet Wants

The Power of Personalization: How Custom Nutrition Plans Drive Business Success at Pet Wants

the-power-of-personalization-how-custom-nutrition-plans-drive-business-success-at-pet-wants

Griswold

Griswold Franchisee Beth Copeland Featured in Entrepreneur Magazine

griswold-franchisee-beth-copeland-featured-in-entrepreneur-magazine

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities - 1851 Franchise Agg

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities 

health-care-hiring-slowdown-in-home-care-franchise-opportunities

Caribou Coffee Names Scott Kennedy CEO, Eyes Continued Growth

caribou-coffee-names-scott-kennedy-ceo-eyes-continued-growth

McDonald’s Launches New Extra Value Meals as Consumer Demand for Value Continues to Climb

mcdonalds-launches-extra-value-meals

Power Eats: Smoothie King Rolls Out Food Nationwide To Fuel Franchise Growth

smoothie-king-food-menu-power-eats

Hardee’s Lawsuit Highlights the Risk of Going Off-Model in Franchising

hardees-franchise-lawsuit-paradigm-investment-group

Wendy's CEO Kirk Tanner Steps Down - Breaking News - 1851 Franchise

Wendy’s CEO Kirk Tanner Steps Down Amid Challenges, Leaving Franchisees Facing Uncertainty

wendys-ceo-transition-kirk-tanner-franchisee-uncertainty

"Come in, We're OPEN" sign against abstract background

Small Business Optimism Dips, Raising Concerns for Franchise Owners

small-business-optimism-dips-raising-concerns-for-franchise-owners

Mega Franchisee Sizzling Platter Acquired by Bain Capital

mega-franchisee-sizzling-platter-acquired-by-bain-capital

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

Multi-Unit Wendy’s Operator Signs 12-Unit Deal With Layne’s Chicken Fingers

ricki-oberoi-laynes-chicken-fingers-growth

Cleaning Franchises Offer Stability and Scalability in a Changing Economic Landscape

cleaning-franchises-offer-stability-and-scalability-in-a-changing-economic-landscape

Potbelly to be Acquired by RaceTrac in $566 Million Deal

MORE STORIES LIKE THIS