CHICAGO -- Just as temperatures across the country rose from chilly to sweltering during the month of May, merger and acquisition activity heated up in the convenience-store industry with five deals that brought growth to several chains and one development that signals organic growth for a major chain.
Here's a look at the deals we're watching to see what blooms next …
Retailer Yesway achieved a major milestone with the acquisition, announced May 30, of its 100th convenience store as part of an 11-store Pick-A-Dilly portfolio transaction in northeastern Missouri.
This acquisition enhances Yesway’s presence in Missouri. The company now owns and operates 14 c-stores in the state and is looking to add additional Missouri stores to its portfolio over the next few years, the company said. Four of these stores are in Hannibal, with other single stores in Vandalia, Center, West Quincy, Edina, Kingdom City, Kirksville and Palmyra.
West Des Moines, Iowa-based Yesway is No. 197 on CSP’s 2017 Top 202 ranking of c-store chains by number of company-operated retail outlets.
Photo courtesy of Yesway.
2. Global Partners/Cheshire Oil
Retailer and marketer Global Partners LP has signed an agreement to purchase 10 company-operated gas stations and convenience stores from Cheshire Oil Co. LLC, Keene, N.H., the company announced May 30.
The Cheshire portfolio has nine stores in New Hampshire and one in Brattleboro, Vt. All of the locations are branded T-Bird Mini Marts and sell CITGO fuel.
Photo courtesy of Wikimedia Commons.
3. Keith’s Superstores/Burns Oil
Burns Oil Co. has completed the sale of 12 gas stations and convenience stores in the Mississippi coastal region to Keith’s Superstores, Hattiesburg, Miss., the company announced May 29.
The sale allows Meridian, Miss.-based Burns Oil to reallocate its resources toward growing its central Mississippi division, which is owned and operated by Burns & Burns Inc., a separate company that runs c-stores in that region.
Photo courtesy of Burns Oil.
4. Global Partners/Champlain Oil
Global Partners also signed an agreement to purchase the retail fuel and convenience-store assets of Champlain Oil Co. Inc., South Burlington, Vt. The acquisition, announced May 17, includes 37 company-operated gas stations with Jiffy Mart-branded convenience stores in Vermont and New Hampshire and about 24 fuel sites that are either owned or leased, including lessee dealer and commission-agent locations.
The transaction also includes fuel-supply agreements for about 70 gas stations, primarily in Vermont and New Hampshire. The stations market major fuel brands such as Mobil, Shell, CITGO, Sunoco and Irving.
Waltham, Mass.-based Global Partners is No. 33 in CSP’s2017 Top 202 ranking of c-store chains by number of company-owned retail outlets. Champlain Oil ranked No. 168.
Photo courtesy of NithidPhoto.
5. Gill Energy/Rudy & Sons
Gill Energy, Matawan, N.J., has acquired Rudy & Sons Inc., which owns and operates four convenience stores with gas, a free-standing car wash and other associated tunnel and self-service car-wash businesses in Allentown, Bethlehem, Easton and Whitehall, Pa.
The deal, announced May 10, also includes Allentown, Pa.-based Rudy's Gulf fuel-supply distributorship, which supplies the company-owned gas stations, as well as four independent gas stations in the area.
Photo courtesy of Pixabay.
QuikTrip Corp. has purchased nearly 100 acres of property ahead of its expansion into the San Antonio and Austin, Texas, markets. The convenience-store retailer has acquired 18 lots worth a total of at least $10 million in the San Antonio area and will open 60 stores in San Antonio and 40 in Austin, with a few in between, according to a May 25 report by the San Antonio Express-News.
Tulsa, Okla.-based QuikTrip is No. 11 in CSP’s2017 Top 202 ranking of c-store chains by number of company-operated retail outlets.