Year in Review: Top M&A Deals of 2018

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Marathon and Andeavor combine

Year in Review: Top M&A Deals of 2018

By Melissa Kress - 12/20/2018
7-Eleven and Sunoco logos
7-Eleven closed its largest acquisition ever, but Marathon and Andeavor took the No. 1 spot with their $23.3-billion merger.

NEWARK, N.J. — 2018 started off on a historical high note when 7-Eleven Inc. closed on its purchase of nearly all of Sunoco LP's retail assets — the largest acquisition the Irving, Texas-based chain ever completed.

The $3-billion deal, though, would be eclipsed in the spring when Marathon Petroleum Corp. and Andeavor announced their $23.3-billion merger agreement.

U.K.-based EG Group also made a splash when it entered the U.S. convenience channel with a $2.15-billion deal to buy The Kroger Co.'s c-store network, followed by its purchase of TravelCenters of America LLC's Minit Mart portfolio.

Big-ticket M&A transactions were not alone in grabbing readers' attention. Long-established family businesses such as Thorntons Inc. and Ricker Oil Co. reached acquisition agreements as the year entered its final months.

These are the top 10 M&A headlines of 2018, as reported by Convenience Store News Online:

1. Marathon Petroleum & Andeavor Reach $23.3B Merger Agreement
The deal created a nationwide convenience store network when it closed in the second half of 2018.

2. 7-Eleven Closes Biggest Acquisition in Its History
Convenience store chain takes ownership of 1,030 sites from Sunoco LP.

3. Kroger Completes Exit From Convenience Store Operations
U.K.-based EG Group closes on its $2.15-billion portfolio acquisition.

4. TravelCenters Completes Exit From Standalone C-store Operations
After five years, the company sells its Minit Mart portfolio for $330 million.

5. Chile-Based Enex Completes Acquisition of Road Ranger
The $289-million deal marks Enex's entry into the U.S. market.

6. Thorntons Being Acquired by Joint Venture Between BP & ArcLight Capital
All existing c-stores will continue to operate under the Thorntons banner.

7. Giant Eagle Takes Ownership of Ricker Oil
Work now begins to bring together GetGo and Ricker's into leading food-first convenience retailer in Indiana.

8. Getty Realty Joins GPM & E-Z Mart Deal With $52M Acquisition
The REIT leases 30 properties to a GPM subsidiary as full operations of the E-Z Mart chain officially changes hands.

9. Speedway to Acquire 78 New York Convenience Stores
The Express Mart sites are located primarily in the Syracuse, Rochester and Buffalo markets.

10. Jacksons & Chevron Joint Venture Gets Up & Running
New company plans to double the number of ExtraMile locations by 2027.

About the Author

Melissa Kress

Melissa Kress

Melissa Kress is Senior News Editor of Convenience Store News. Read More