Industry Roundup: The Top 10 Most-Read Stories of March 2023
NATIONAL REPORT — Awards and acquisitions were among the most notable stories last month. In the latest Industry Roundup, we present the top 10 most-read stories for the month of March, based on reader views:
1) Buc-ee's Takes Steps to Enter Two New States
The Texas-based travel center operator submitted planning documents for proposed sites in Virginia's New Kent County and DeForest, Wis., located north of Madison.
2) Two C-store Chains Rank Among Regional Powerhouses to Watch
Buc-ee's and Sheetz Inc. are two convenience store chains that are successful in their regions and have grown into leading brands, according to a recent Placer.ai report. They are among 10 regional powerhouses that, although they have taken different approaches to expansion, are all well-positioned for future growth.
3) Mountain Express Oil to Restructure Following Chapter 11 Filing
The fuel distributor and convenience retailer will use the Chapter 11 process to achieve a comprehensive restructuring that will strengthen the company's fuel distribution business, dealer network and retail business.
4) Parkland COO Jay Erickson Passes Away
The c-store industry veteran helped establish a U.S. foothold for Calgary, Alberta-based Parkland Corp. He was 51 years old.
5) ARKO Asks TravelCenters of America to Reconsider Offer
The Richmond, Va.-based parent company of GPM Investments LLC identified itself as the unnamed bidder that submitted a $92-per-share acquisition proposal to TravelCenters of America Inc. (TA) on March 14. In late March, ARKO asked TA's board to seriously consider the proposal and engage with, rather than exclude, ARKO in the sale process.
6) Convenience Store News Reveals Winners of 2023 Foodservice Innovators Awards
Five convenience store retailers that have made foodservice their top priority are winners in this year's awards program.
7) Buc-ee's Stands Out Among Retailers for High Wages & Customer Experience
Buc-ee's was named No. 1 on the Forbes Customer Experience All-Stars List, while also earning a spot on Insider's list of highest paid entry jobs in retail.
8) EG Group Inks $1.5B Sale-Leaseback Pact for Select U.S. C-store Assets
The operator announced the sale-leaseback on a portfolio of 415 sites to Realty Income Corp. for gross consideration of approximately $1.5 billion. Its Westborough, Mass.-based EG America subsidiary will continue to operate and trade the portfolio.
9) Altria & NJOY Reach $2.75B Deal
The transaction terms include additional $500 million in cash payments that are contingent upon regulatory outcomes with respect to certain NJOY products. Altria also exchanged its Juul Labs stake for heated tobacco intellectual property rights.
10) ARKO Closes $370M Deal for Transit Energy Group's Assets
ARKO Corp. sealed its 23rd acquisition since 2013. The transaction comprises approximately 135 convenience stores, fuel supply to approximately 190 independent dealers and a transportation business.