Industry Roundup: The Top 10 Most-Read Stories of August 2024
NATIONAL REPORT — A potential tie-up between two major retailers drew significant attention in recent weeks. In the latest Industry Roundup, we present the top 10 most-read stories for the month of August, based on reader views:
1) Couche-Tard Makes Two Significant M&A Moves
The parent company of Circle K reached a definitive agreement to acquire GetGo Café+Markets from Pittsburgh-based Giant Eagle Inc. Soon after, Couche-Tard confirmed its submission of a friendly, nonbinding proposal to Seven & i Holdings Co. Ltd., the Tokyo-based parent company of 7-Eleven Inc.
2) Casey's Looks to Shake Up Merchandising Mix
The retailer kicked off the first Casey's Innovation Summit, a competitive event focusing on finding brands with new innovative products. Food and beverage companies can apply online for a possible invitation to the late October Summit.
3) Convenience Store News Names 2024 Class of Future Leaders in Convenience
The 2024 class consists of 50 rising stars from 32 c-store industry retailer, distributor and supplier companies. These emerging leaders will be recognized and honored at the annual Future Leaders in Convenience Summit, to be held Nov. 12-13 in Des Moines.
4) Delek US Inks Deal to Sell Retail Assets for $385M
A subsidiary of international retailer FEMSA will acquire 100% of the equity interests in the Delek subsidiaries that operate Delek US Retail for cash consideration of $385 million. The deal is expected to close late in the third quarter or in the fourth quarter of 2024.
5) Convenience Store News' 2024 Technology Leader of the Year Is...
Alimentation Couche-Tard Inc. uses technology to enable innovation, streamline internal processes, serve as a global leader in mobility solutions and more. The company will receive the award at the 2024 CSNews Technology Leadership Roundtable & Dinner on Oct. 7.
6) Buc-ee's to Start Construction on First Ohio Location
Located at 8000 State Highway 235 in Huber Heights and situated near Dayton, the new store will occupy 74,000 square feet and have 100 fueling positions. Construction is expected to take around 18 months for a late-2025 opening.
7) Giant Eagle Answers FAQs Around GetGo Sale
CEO Bill Artman said the sale of GetGo to Laval, Quebec-based Couche-Tard will enable growth for both Giant Eagle and GetGo as the two move forward. The company explained that the deal strengthens Giant Eagle's business for the future while delivering significant benefits to its team members, partners, customers and communities.
8) Mars to Acquire Kellanova
The $35.9 billion deal calls for Mars to acquire Kellanova for $83.50 per share in cash, for a total consideration of $35.9 billion. The addition of Kellanova provides Mars Snacking with entry into new attractive snacking categories.
9) Maverik Shifts Kum & Go Rebranding Efforts to Wyoming
On Aug. 23, the convenience store chain held a special event in Denver to celebrate the completion of its Colorado store rebrands and kick off the transformation of stores in Wyoming. To date, Maverik has completed 97 store rebrands across Colorado and Utah.
10) Circle K Reaffirms Commitment to Employee Safety Following Florida Investigation
The retailer is contesting the findings of the U.S. Department of Labor following a January 2024 incident. Circle K cited its significant investments in technology process improvements and training designed to better ensure a safe environment in its stores and facilities.