Six Convenience Retailers Named Among America's Largest Private Companies
NATIONAL REPORT — Convenience store retailers are making a place for themselves amidst the biggest private companies in all industries, with six chains appearing on Forbes' annual list of America’s Largest Private Companies.
The list includes U.S.-based firms with revenue of $2 billion or more from the most recent fiscal year. The 2023 list features 258 companies, up from 246 last year.
C-store retailers on the list include:
No. 9: Love's Travel Stops & Country Stores — Founded in 1964 by Tom and Judy Love, the Oklahoma City-based company has more than 640 locations across 42 states and employs 40,000 people. Love's generated $26.5 billion in revenue from the most recent fiscal year. The company also appeared on Forbes' most recent Best Customer Service list.
No. 17: QuikTrip Corp. — The Tulsa, Okla.-based company was founded by Chester Cadieux and Burt Holmes in 1958, and now owns and operates 1,000-plus c-stores and gas stations throughout 17 states in the Midwest, South and Southwest. Approximately 20 percent of the company is owned by nonfamily members through an employee stock ownership plan, with the Cadieux family controlling the majority of the remainder. QuikTrip employs 28,679 people and generated $20.3 billion from the most recent fiscal year. It also appeared on Forbes' most recent Best Customer Service list.
No. 18: RaceTrac Inc. — Atlanta-based RaceTrac has operated since 1934 and currently has nearly 800 retail sites in the Southeast, representing the RaceTrac and RaceWay brands. The company has more than 10,400 team members across RaceTrac, RaceWay and affiliated companies Metroplex Energy and Energy Dispatch/Metroplex Energy, which sells fuels to all RaceTrac locations as well as other leading retailers and fuel wholesalers in 15 states. Energy Dispatch operates 98 tractor-trailers out of six states. RaceTrac generated $19.7 billion in revenue from the most recent fiscal year.
[Read more: RaceTrac Slates Indiana Debut]
No. 20: Wawa Inc. — Pennsylvania-based Wawa was founded in 1964 and now operates approximately 1,000 c-stores throughout the Northeast and Florida, with plans to double its footprint within the next decade. The company has 42,000 employees and generated $18.9 billion during the most recent fiscal year. It also appeared on Forbes' most recent Best Customer Service list.
No. 27: Sheetz Inc. — Based in Altoona, Pa., Sheetz was founded by Bob Sheetz in 1952 and operates approximately 680 c-stores in Pennsylvania, Maryland, Ohio, Virginia, West Virginia and North Carolina. The company has 24,000 employees and generated $14 billion during the most recent fiscal year. It also appeared on Forbes' most recent Best Customer Service list.
No. 81: FJ Management — The parent company to Maverik — Adventure's First Stop operates more than 400 c-stores across 12 western states, Arizona, California, Colorado, Idaho, New Mexico, Nebraska, Nevada, Oregon, South Dakota, Utah, Washington and Wyoming, making it the largest independent fuel marketer in the Intermountain West. The company has 15,000 employees and generates $7 billion during the most recent fiscal year.
Notable Movement
Savannah, Ga.-based Colonial Group — a diversified group of companies focused on the energy, chemicals, distribution and logistics industries that operates the Enmarket c-store chain as its retail arm — made the biggest jump on this year's list of America’s Largest Private Companies. Colonial Group moved up 73 spots to No. 126 with $5 billion in revenue.