RaceTrac acquisition of Potbelly

Potbelly and Cheba Hut thrive with $601 million and $182 million in sales

The sandwich chain marks its Georgia entry with a new corporate location in Chamblee as part of a larger regional development plan.

The burger brand is looking for an operations leader to help CEO Robert Wright lead its turnaround after hundreds of closures and six quarters of tumbling traffic.

The convenience store chain is expanding its professional driver network and integrating newly acquired Potbelly shop locations into its multi-unit operations.

Wendy's shares surged more than 25% on Wednesday, according to Yahoo Finance, followed by another jump in pre-market trading Thursday, after the fast-food chain became the latest company to attract a wave of retail inves

The burger giant has appointed the former Potbelly executive to lead its financial and strategy functions following the termination of its previous CFO.

This appears to be RaceTrac’s first confirmed location with a Potbelly on site since the retailer acquired the sandwich chain last year.

Bob Wright was named CEO of the sandwich chain Potbelly in July 2020, after spending several years with Wendy’s.

- Quick Service - Executives - News Bob Wright returns to Wendy’s as its CEO Wright, who spent years at the fast-food chain, had previously been the CEO of the sandwich chain Potbe

Industry veteran Bob Wright returns to the fast-food giant to focus on operational excellence and strengthening the financial model for the brand's franchisees.

Former Potbelly CEO Bob Wright takes the helm at Wendy’s as the burger chain navigates same-store sales challenges and an ongoing turnaround strategy.

Following its acquisition by RaceTrac, Potbelly reported record franchise growth and competitive average unit volumes compared to other sandwich sector leaders.

Franchises are hot commodities. According to the 2025 report from the International Franchise Association, the actual growth of franchises in 2024 outpaced estimates; this year, franchises are predicted to expand by an additional 2.4 percent.

As part of the transaction, RaceTrac acquires Potbelly’s iconic neighborhood sandwich shop brand, which includes more than 445 company and franchise-owned shops across the United States.

The acquisition is expected to close in the fourth quarter of 2025, subject to customary closing conditions and regulatory approvals.

RaceTrac acquires Potbelly for $566 million, positioning the chain for long-term growth and expansion.