Core Viewpoint - Potbelly is being acquired by RaceTrac for $566 million, aiming to expand its restaurant locations from 445 to 2,000 [1][2]. Company Overview - Potbelly, founded in 1977 in Chicago, operates 445 restaurants across the U.S., with both company-owned and franchise locations [1]. - RaceTrac, a family-owned company founded in 1934, operates over 800 locations in 14 states [2]. Acquisition Details - RaceTrac will acquire all of Potbelly's shares at a price of $17.12 per share in an all-cash transaction [3]. - The acquisition is expected to close in the fourth quarter of the year [3]. Strategic Implications - Potbelly's CEO stated that the partnership with RaceTrac will unlock new opportunities while maintaining the brand's neighborhood sandwich shop experience [2]. - Following the announcement, Potbelly's shares increased by 32% to $17.03 [2].