RaceTrac Acquires Potbelly, Expands Convenience Store–Restaurant Hybrid Model

Paul Rutledge

“RaceTrac has been aggressively pushing into the fast casual space as customers are demanding more and more convenience. RaceTrac has kept this in their sights and is moving with this purchase to make a new mark in the industry,” says Paul Rutledge of LQ Real Estate.

ATLANTA — Convenience store operator RaceTrac has acquired Potbelly Sandwich Works, the Chicago-based fast-casual chain with more than 400 locations nationwide. The move underscores a growing trend in the sector: integrating fuel, convenience retail, and higher-quality dining into a single customer experience.

Potbelly SandRaceTrac acquisition, Potbelly Sandwich Works, convenience store hybrid, RaceTrac foodservice, Wawa competition, Circle K strategy, fast casual convenience, RaceTrac Milton Florida, Potbelly expansion, RaceTrac large format storeswich Shop — Potbelly is a Nationwide Established Brand that features Sandwiches – Photo courtesy of https://www.potbelly.com/

The acquisition positions RaceTrac alongside competitors such as Wawa, which has long emphasized foodservice as a differentiator in the convenience channel. By adding Potbelly’s established brand and footprint, RaceTrac strengthens its ability to compete in the increasingly important space where fast casual meets fuel retail. “RaceTrac has been aggressively pushing into the fast casual space as customers are demanding more and more convenience. RaceTrac has kept this in their sights and is moving with this purchase to make a new mark in the industry,” says Paul Rutledge of LQ Real Estate.

“RaceTrac has also been expanding its large-format store prototypes, including a site in Milton, Fla., at I-10 and US-87,” reported Paul. This site is reported to span more than five acres. These larger sites are designed to combine multi-service convenience, price competitiveness, and elevated food options, reflecting evolving consumer expectations for one-stop destinations.

This strategy differs from Circle K’s acquisition model, which typically focuses on rebranding existing operations. RaceTrac’s approach instead emphasizes creating new, integrated formats built around convenience and dining.

Industry analysts note that the shift is likely to benefit consumers most, as expanded service offerings, higher-quality food, and increased competition drive both innovation and price discipline across the market.

With Potbelly under its umbrella, RaceTrac is positioned to further challenge Wawa and other leaders in the race to redefine the modern convenience store.

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“Great experience. So glad they’re in our neighborhood.” – Dani M.

We stopped by today – enjoyed our sandwiches and will be back! – Amy B.

Potbelly recently launched a new restaurant as well in Tampa late in 2024, over at: 18027 Highwoods Preserve Parkway Tampa, FL 33647. You can find out more information about Potbelly’s new location over at: https://www.potbelly.com/locations/florida/new-tampa.