Industry Roundup: The Top 10 Most-Read Stories of April 2023
NATIONAL REPORT — Mergers and acquisitions heated up this spring as convenience store operators focused on growing their networks. In the latest Industry Roundup, we present the top 10 most-read stories for the month of April, based on reader views:
1) MAPCO Express Network Sells to Two Buyers
Majors Management LLC and Alimentation Couche-Tard Inc. are splitting the portfolio in two separate transactions. Couche-Tard's acquisition includes 112 c-stores and fuel sites plus surplus property and a logistics fleet, while Majors is acquiring the MAPCO brand and the remaining c-store and fuel locations across the Southeastern United States.
2) Pilot Co. Names New Leadership
Adam Wright will join the company as CEO and Joe Lillo will become chief financial officer, officially taking their positions on May 30. The change follows Berkshire Hathaway becoming majority owners of Pilot on Jan. 31.
3) Maverik Inks Deal to Acquire Kum & Go
Maverik – Adventure's First Stop is acquiring Kum & Go, a chain of more than 400 c-stores across 13 states, from the Krause Group. As part of the deal, Maverik will also acquire Solar Transport, a tank truck carrier and logistic provider owned by the Krause Group.
4) QuikTrip & Wawa Hit Network Milestones
QuikTrip opened its 1,000th location in Converse, Texas, after 65 years in business, while Wawa opened its 1,000th store in Oaklyn, N.J., soon after its 59th anniversary.
5) Love's Travel Stops Completes Acquisition of EZ GO Convenience Stores
As part of the transaction, Love's acquired six travel stops located on Oklahoma turnpikes and five on the Kansas turnpike, in addition to 11 c-stores in Oklahoma and Nebraska.
6) E15 Sales Comes to New York State
One of the first locations offering E15 in the Empire State is the Dandy Mini Mart and Travel Plaza in Nichols, where drivers recently reported purchasing the fuel blend for $3.29 per gallon — 20 cents below the price listed for regular gasoline.
7) Wawa Tests New Age-Restricted Sales Policy at Select Stores
Some Wawa Inc. convenience stores in Pennsylvania have posted public notices that they will begin carding everyone who wishes to purchase tobacco, vape or alcoholic products. Cashiers there are now asking for valid identification for any such purchases, regardless of the apparent age of the customer.
8) Cox Oil Exits C-store Industry With Sale to Tri Star Energy
After more than half a century in business, Cox Oil Co. Inc. will leave the convenience store business after selling its 54 stores to Nashville, Tenn.-based Tri Star Energy LLC and certain other companies. Of these sites, 52 are company operated and two are dealer operated.
9) Wawa to Break Ground on First North Carolina C-store
The convenience store operator shared plans for its first store within the state, which will be located at 1900 N. Croatan Highway in the town of Kill Devil Hills. No opening date has yet been announced.
10) Neon Marketplace Appoints New CEO
In his new role, Adi Dhandhania will be responsible for the day-to-day leadership of the company, its growth strategy and the continued evolution of the brand. He will also join Neon's board of directors.