Industry Roundup: The Top 10 Most-Read Stories of December 2024
NATIONAL REPORT — The year's final top headlines included more merger-and-acquisition news, store openings and more. In the latest Industry Roundup, we present the top 10 most-read stories for the month of December, based on reader views:
1) Buc-ee's Files Suit Against Missouri Drive-Thru Over Trademark Issue
The retailer alleges that 2 Wiseman Enterprises dba Duckees Drive Thru and its cartoon duck logo infringe Buc-ee's trademarks. The lawsuit seeks an injunction halting Duckees from using the logo.
2) Circle K Inks Leases for Three Distribution Centers
The convenience store retailer inked a franchise development agreement with The Briad Group, which will open 40 franchised Circle K stores in Upstate New York. The development of the new convenience stores is set to begin in early 2025.
3) Future of 7-Eleven Could Include an IPO
An IPO is reportedly being considered as the optimal way to quickly pay down loans that would be extended by three of Japan's biggest banks in a potential $58 billion management buyout. Company executive Junro Ito, son of Seven & i founder Masatoshi Ito, made the proposal with his private company Ito-Kogyo Co. Ltd.
4) FDA Proposes Substantial Nicotine Limitation
A newly proposed rule would establish a maximum nicotine level to reduce the addictiveness of cigarettes and certain combusted tobacco products. This regulatory step does not mean overnight change, but experts say it could significantly improve public health.
5) Six Convenience Retailers Take Spots Among Top Private Companies
Love’s Travel Stops ranked No. 11 with $24 billion in revenue and 40,000 employees. QuikTrip Corp. was the second-highest company from the c-store industry at No. 20 with $19.6 billion in revenue and 33,027 employees.
6) Drivers Rank Their Gas Station Priorities
Forty-two percent of car owners typically visit gas stations three to five times per month. Their primary reasons for visits include fueling, buying goods from the c-store, and using the restroom.
7) Hershey Rejects Mondelēz's Preliminary Takeover Bid
Its controlling owner, Hershey Trust Co., assessed the bid as too low. The rejection came after Hershey hired advisors to help it respond to the interest, according to inside sources.
8) RaceTrac Rings Up Customers at First Ohio Location
The chain cut the ribbon on its first store in Ohio on Dec. 11. Located in I-75 and CR 99 corridor in Findlay, the 8,100-square-foot travel center will serve the nearly 75,000 professional drivers, commuters, residents and travelers that pass through the area daily.
9) Reliance Fuel Acquires The Store C-store Chain
Parent company Team Schierl Cos. announced that Reliance Fuel is The Store's new operator as of Dec. 20. All current The Store locations will remain open, and all employees will retain their positions.
10) 7-Eleven Named a Brand to Watch
Store Brands, a sister publication to Convenience Store News, listed 7-Eleven Inc. among its list of 10 Retailers To Watch in the coming year. "We partner with manufacturers to produce these new and innovative items that are the first to market, the best in the market, and/or exclusive to 7-Eleven stores," Nikki Boyers, 7-Eleven's vice president of private brands, told Store Brands.