Potbelli acquired Racetran for $ 566 million

Shop sandwich chain Molding will be Acquired by the store operator within 576 million US dollars, the company announced on Wednesday.

The agreement is expected to be closed in the fourth quarter of the year. Potbela shares shot more than 30% after the announcement.

Chicago based Potbelli has more than 445 shops in the US, including franchised locations, With the aim of reaching 2,000, according to society. Racetrac, a family business owned by Atlanta, operates more than 800 convenience stores in 14 countries.

“Strategic vision of racetracks, including their commitment to quality perfectly aligned with our mission to delight customers with great food and good vibrations,” Potbelli CEO Bob Vright said in the statement. “In recent years, we put a pomelli for accelerated growth in a franchise, and this transaction treats our path as it submitted a specific and immediate value to our shareholders.”

The agreement will appreciate the Potbelli action to $ 17.12, marking approximately 47% of the premiums to the Potbelin price on Tuesday. The company’s cattle is more than 75% this year.

The agreement on Wednesday is another significant acquisition of Racetrac, after her 2023 Deal for the purchase of a bay oil.