C-store Chains Among America's Fastest-Growing Private Companies
NEW YORK -- Four convenience store chains have landed on the list of the top 5,000 fastest-growing private companies in the United States.Those representing the channel are Lightning Quick Gas N Go, Parker's, Kum & Go, Plaid Pantry and Engineer Associates.
The list is compiled annually by Inc., which publishes the Inc. 500 and Inc. 5000, its expanded online version. The lists "are a comprehensive celebration of the most dynamic and innovative players in today's economy -- America's independent entrepreneurs," the magazine explained.
Lightning Quick Gas N Go came in highest on the list of c-store companies, ranking No. 971. The Adrian, Mich.-based company had a three-year growth of 332 percent with total revenue of $18.6 million in 2011. Parker's ranked No. 3006. The Savannah, Ga.-based company had three-year growth of 72 percent with total revenue of $212.6 million in 2011.
The next c-store chain appearing on the list was Kum & Go, appearing at No. 4268. The West Des Moines, Iowa-based company had a three-year growth of 29 percent with total revenue of $3 billion in 2011. Plaid Pantry also landed on the list, appearing at No. 4450. The Beaverton, Ore.-based company had a three-year growth of 23 percent with total revenue of $211.5 million in 2011.
In addition, Engineer Associates, an unbranded gas station and convenience store chain based in Berkeley, Calif., came in at No. 1325. The company had a three-year growth of 542 percent with total revenue of $26.3 million.
"We're grateful to our customers for making this honor possible," said Parker's President and CEO Greg Parker. "Their loyalty has helped make us one of the nation's fastest-growing companies. This honor further validates what our customers tell us every day -- that we deliver the ultimate in convenience store products and services at a fair price."
Propel Fuels a leading retailer of renewable fuels and clean mobility solutions, has been named to the annual Inc. 500 list of the nation's fastest growing private companies. With a three-year growth rate of more than 1,000 percent, Propel ranked as the 17th fastest growing private company in the energy sector, 352nd overall, and America's fastest growing private fuel brand. Propel currently operates 28 fueling locations throughout California and Washington State with more than 200 locations planned for new and existing markets over the next two years, according to the company.
"This recognition is a tribute to our thousands of loyal customers and fleet partners that choose to fill with clean, renewable, domestically produced fuels," said Matt Horton, CEO of Propel. "This honor is just a start for Propel. As we continue to build our network of stations, we're making progress toward our nation's energy goals and providing choice at the pump for consumers seeking cleaner mobility options."
Overall, the median three-year growth of 2012 Inc. 500 companies was 1,436 percent, the highest rate in the list's 31-year history. Payment processor Unified Payments tops this year's list with a three-year growth rate of 23,646 percent. Combining the two lists, the 2012 honorees, in aggregate, generated $299 billion in 2011 revenue and, over the past three years, created 389,000 jobs, the news outlet reported.
"To be honored this year is a particularly notable achievement. To rank among the 2012 Inc. 5000 -- let alone, the Inc. 500 -- a company had to thrive through three of the toughest years this economy has seen in living memory. Their success in such times is eloquent testimony to their team's creativity, resilience, and tenacity," said Inc. Editor Eric Schurenberg.