Corporate News

Corporate news affecting the convenience store industry

Benchmarking data reveals OTP, foodservice rich in opportunity as fuel profits slip

NEW YORK -- As the Energy Information Administration (EIA) reported gasoline prices ticking up for the seventh week in a row, retailers are facing yet another year where the fuel pumps place dead weight on profits; however, inside the convenience store, a few categories present opportunities for...

Coveted corner lots fetching a lot

PHILADELPHIA -- An escalating war between drug store chains, banks, gas stations, convenience stores, coffee shops and donut shops for high-visibility locations is driving up corner lot sales, according to a report by The Intelligencer, citing real estate brokers. Companies such as Commerce Bank,...

Selling 83 sites for rebranding, as well as other assets

ATLANTA -- BP has put up for sale 83 sites in the Atlanta metro area to be reimaged or developed as ampm franchise stores with BP-branded gas stations, as reported in a CSP Daily News Flash yesterday. Franchising these Atlanta sites as ampm is in line with BP's strategic plans to expand and grow...

Mister Car Wash, the nation's fourth largest conveyor carwash chain, said that it has entered into an agreement to be acquired by private-equity firm ONCAP.
Sinclair Oil selling 27 locations to recapitalize
Merchandise sales up 9.9% for quarter, 10.9% for year
Jason McAuliffe promoted at recruiter
Grocer-distributor acquires two fuel centers, three c-stores in supermarket deal
Open Pantrys new site capitalizes on less capital
Good-faith deposit extends deadline after financing switch