Industry Roundup: The Top 10 Most-Read Stories of August 2020
NATIONAL REPORT — Acquisitions, awards and tobacco news were some of the biggest headlines last month. In the latest Industry Roundup, we present the top 10 most-read stories for the month of August, based on reader views:
1) Marathon Petroleum CEO: Speedway Sale Is a 'Win-Win' for Both Sides
With an agreement on the table to sell Speedway LLC to 7-Eleven Inc., Marathon Petroleum Corp. (MPC) is looking toward the future. The $21 billion deal demonstrates MPC's commitment to executing the strategic priorities it outlined earlier this year, noted President and CEO Michael Hennigan.
2) Marathon Petroleum & 7-Eleven Reach $21B Deal for Speedway
As part of the agreement, Irving, Texas-based 7-Eleven — a wholly owned, indirect subsidiary of Seven & i Holdings Co. Ltd. — will acquire approximately 3,900 Speedway stores located in 35 states. The deal is expected to close in the first quarter of 2021.
3) The Top 100 Convenience Store Chains of 2020
As the 2020 Convenience Store News Top 100 ranking shows, merger and acquisition activity continued to be a key trend in the industry over the past year, driving the top chains to keep a tight grasp on their titles, as others jockeyed to become the next big c-store player.
4) Convenience Store News Reveals Winners of 2020 Best New Products Awards
A record number of entries in the 2020 Convenience Store News Best New Products Awards contest resulted in some keen competition among suppliers jockeying to introduce the most innovative new items to the convenience store industry in the past year.
5) Philip Morris USA Plots Expansion Path for IQOS
Altria Group Inc.'s alternative tobacco lineup is making its way across the United States as the company's Philip Morris USA (PM USA) brings IQOS to its third market. PM USA introduced the heat-not-burn tobacco product to the Charlotte, N.C., market in mid-July.
6) Tobacco Cos. Line Up to File PMTAs as New Deadline Nears
In summer 2019, District Judge Paul Grimm of the U.S. District Court for the District of Maryland set a May 12, 2020 deadline for companies to submit their applications to the agency. However, this April, Grimm agreed to extend the deadline to Sept. 9, 2020 as tobacco companies and the FDA weather the challenges of the COVID-19 pandemic.
7) Casey's Continues to Build a Robust & Diverse Leadership Team
Casey's General Stores Inc. made several personnel moves as it pushes forward with its strategic plan.
8) Sheetz Overtakes Speedway in C-store Digital Scorecard
Ameex Technologies this month released the results of its 2020 study measuring convenience store retailers' online presence. In its 2019 study, Speedway LLC ranked No. 1 due to its website performance, site traffic, and social media engagement.
9) Wadsworth Oil Sells Company to Circle K
Wadsworth Oil was founded in Tuskegee, Ala., in the late 1920s as a Pan Am wholesaler. In 1977, the company purchased a small Amoco distributor in the city of Clanton, becoming Wadsworth Oil Co. of Clanton Inc. Today, it operates 10 c-stores throughout central Alabama under The Store banner.
10) Nine C-store Chains Earn Place on NRF's Hot 100 Retailers List
The Top 100 Retailers ranks the nation's fastest-growing retail companies. Rankings are determined by increases in domestic sales between 2018 and 2019. All retail companies with domestic sales in excess of $300 million were eligible.