Corporate News

Corporate news affecting the convenience store industry

Valero reports record 1Q earnings

SAN ANTONIO -- Valero Energy Corp. has reported record first-quarter net income of $849 million, or $1.32 per share, which compares to $534 million, or 96 cents per share, in the first quarter of last year. As of March 31, 2006, the company's debt-to-capitalization ratio, net of cash, was 23.5%,...

Several sellers offering more than a dozen sites in sealed-bid sale

CHICAGO -- Fourteen c-stores with gasoline in Illinois and Missouri and a closed truckstop with an operating hotel and income property are being offered by multiple owners via a sealed-bid sale. The five sellers involved include Quick Mart Inc., Quincy, Ill., with eight stations in western Illinois...

BP selling 23 sites

A story in the April 19 issue of CSP Daily News stated that Sovereign Investment Co., Princeton, N.J., purchased four Circle K in Illinois from Canada's Alimentation Couche-Tard. The stores were, in fact, purchased from a third party that continues to lease the sites. A spokesperson for Sovereign...

Analysts predict quick resale of Village Pantry chain after closing
Motorist savers cashing in on low prices
Major oil company continues to add more dealer-, jobber-owned sites
Plans to offer 10 million shares at $14-$16 a share
Jerry D. Maahs, founder and former president of foodservice equipment maker Alto-Shaam Inc., has passed away at age 74.
Sovereign Investment acquires four Illinois Circle K locations
Road Ranger LLC has opened its second travel center in Missouri, located on I-44 near St. Louis in Fenton.