Industry Roundup: The Top 10 Most-Read Stories of September 2021
NATIONAL REPORT — EG Group, Casey's and bp were among the retailers to generate recent buzz about real and potential mergers and acquisitions.
In the latest Industry Roundup, we present the top 10 most-read stories for the month of September, based on reader views:
1) Is EG Group Up for Sale?
An active player in the U.S. merger-and-acquisition field may be on the lookout for a buyer itself. Sources familiar with the matter claim that U.K.-based EG Group is working with advisors and any deal could be valued at approximately $15 billion.
2) Proposed Federal Tobacco Tax Could Result in 50% Increase in State Taxes & Retail Prices
While no tax hikes are set in stone, a proposal to increase the federal excise tax for tobacco products could have a dramatic impact at retail. The Tobacco Tax Equity Act of 2021 would close tax code loopholes for tobacco products by increasing the federal tax rate on cigarettes, pegging it to inflation and setting the federal tax rate for all other tobacco products at this same level.
3) Casey's Reaches $220M Deal to Acquire 40 Pilot C-stores
Casey's General Stores Inc. is buying 40 Pilot convenience stores from Pilot Corp. in an all-cash transaction for $220 million. The acquisition will extend Casey's presence in Tennessee and Kentucky with well-established locations primarily in the attractive Knoxville, Tenn., market.
4) Attorneys General in 24 States Threaten to Sue Over President's Vaccine Mandate
President Joe Biden is facing opposition from the other side of the aisle over a recent vaccine mandate for private businesses with 100 or more employees. In a Sept. 16 letter, 24 Republican state attorneys general voiced opposition to the requirement, arguing that the mandate misuses its authority in attempting to impose a nationwide health decree through an emergency labor order that has traditionally been directed to address workplace safety.
5) PHOTO GALLERY: 7-Eleven Franchisee Opens New Concept Store
The Chaudhary Petroleum Group (CPG), a 7-Eleven Inc. Portfolio Franchisee, opened a new concept store in Westlake, marking the city's first new retail development since incorporating in 2016. Located at 4670 Seminole Pratty Whitney Road, the new convenience store was developed by CPG in cooperation with 7-Eleven as a new concept in Florida. Among the site's unique features are a Fusion Fresh restaurant, the Wine Cellar, a nitro cold brew and iced tea bar, and a car wash.
6) Philip Morris International & Altria Must Stop Selling IQOS in the U.S.
Plans to expand IQOS across the United States are on hold. On Sept. 29, the U.S. International Trade Commission ruled Philip Morris International and Altria Group Inc. must step selling and importing the heat-not-burn tobacco product. The ruling follows a finding that IQOS infringes on two patents by British America Tobacco Group.
7) PHOTO GALLERY: Inside RaceTrac's Travel Centers
RaceTrac is focused on growing its number of travel centers and recently cut the ribbon on its third travel center location. Situated on U.S. Highway 27 in Davenport, Fla., the 8,100-square-foot travel center is part of an exciting new brand in RaceTrac's portfolio of stores, according to the operator.
8) Recent M&A Deals Advance Alimentation Couche-Tard's Growth Plans
In July, the parent company of Circle K inked a definitive agreement to acquire Wilsons Gas Stops and Go! stores in Canada. The purchase of this network of 226 corporate-owned and dealer locations and a fuel terminal will allow Couche-Tard to expand its presence in Atlantic Canada. In addition, Couche-Tard entered into an agreement to acquire 35 sites currently operated under the Porter's brand, predominantly in Oregon and Washington.
9) A Done Deal: BP Takes Full Ownership of Thorntons
BP has officially re-entered fully owned and operated U.S. convenience stores by taking full ownership of Louisville, Ky.-based Thorntons. The done deal adds 208 c-stores to its portfolio.
10) PHOTO GALLERY: Inside GPM's Bold, New Store Prototype
After achieving sizable growth via multiple acquisitions in the last 10 years, GPM Investments LLC made a strategic decision to embark on a remodel initiative, armed with a new, bold convenience store prototype that puts its forward-thinking practices in front of the consumer. As part of the extensive remodel program, GPM recently began welcoming customers to the first of 10 new concept stores planned for 2021: a fas mart store located in Collinsville, Va.