Mergers & Acquisitions

Majors Management Acquires 69 Stores From Circle K

Buyer converting half of the sites to franchised Kangaroo Express locations
majors management

LAWRENCEVILLE, Ga. — Majors Management LLC acquired 69 convenience stores from Circle K Stores Inc. in fourth-quarter 2021, the company has announced. The sites are in Louisiana, Alabama, Florida, South Carolina, North Carolina and Virginia. The acquisition extends Majors Management’s footprint into Virginia and expands its presence in the other southeastern states. The company will convert 34 of the sites to franchised Kangaroo Express locations.

The companies closed the acquisition “quickly, efficiently and without disruption to the stores,” Majors Management President Ben Smith said. “I am incredibly proud of the effort everyone at Majors showed in completing this transaction in record time overcoming the challenges associated with taking over sites spread across six states. We thank all the people that contributed to the smooth transition. We are excited to expand our franchise relationship with Circle K, grow the Kangaroo Express brand and grow Majors’ footprint in new markets.”

Couche-Tard owns the Kangaroo Express brand after acquiring The Pantry and its 1,509 locations in 13 states for approximately $860 million in 2015. It has converted most into company-operated Circle K sites, but it made a select group of Kangaroo Express stores available for sale to become the foundation of the Kangaroo Express Franchise program.

  • Couche-Tard is No. 2 on CSP’s 2022 Top 40 Update to the 2021 Top 202 ranking of U.S. c-store chains by store count. Watch for the full 2022 Top 202 ranking in the June issue of CSP magazine.

Laval, Quebec-based Couche-Tard’s 26-country global network includes approximately 9,300 c-stores in North America, with more than 7,100 in the United States under the Circle K and Holiday Stationstores banners in 48 states, and approximately 2,100 in Canada under the Circle K, Mac’s and Couche-Tard banners. It has a worldwide total network of approximately 14,200 stores. Real estate advisory firm NRC Realty & Capital Advisors LLC, Chicago, served as advisor and exclusive real estate agent for Circle K in the deal.

Lawrenceville, Ga.-based Majors Management is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. It supplies fuel to more than 1,200 locations, partnering with brands including BP, Shell, Chevron, Exxon, Marathon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon. Its current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia. In the last two years, Majors Management has completed 13 acquisitions across 11 states.

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