Year in Review: Top M&A Deals of 2019
NEWARK, N.J. — Mergers and acquisitions (M&A) continued to grab headlines across the convenience channel in 2019. And this year, M&A was spelled with two other letters: EG.
United Kingdom-based EG Group really dug into the U.S. c-store market in 2019 by inking acquisition deals across the country with regional players like Fastrac and Certified Oil. But its biggest move of the year was its purchase of Cumberland Farms and its nearly 600 c-stores throughout New England and Florida.
These are the top 10 M&A headlines of 2019, as reported by Convenience Store News Online:
1. EG Group Completes Acquisition of Cumberland Farms
The deal boosts the company's U.S. portfolio to 1,680 convenience stores.
2. Thorntons Sale Finalized, New CEO Named
Simon Richards, former head of regional development of BP Products North America, will lead the c-store chain.
3. Yesway Completes Acquisition of Allsup's Chain
The 304-store deal bolsters the company's footprint to 421 c-stores.
4. Couche-Tard Sells CrossAmerica to Company Founder
The decision to sell its entire ownership interest came after a strategic review.
5. EG Group Makes Another Acquisition in Rapid U.S. Expansion
Its purchase of Certified Oil will help the retailer extend into new markets.
6. Riiser Fuels Sells Business to GPM
The two companies are teaming up to take advantage of the consolidation opportunities in Wisconsin.
7. EG America Completes Fastrac Markets Acquisition
The retailer picks up 54 convenience stores in New York.
8. Marathon Petroleum Acquires Majority of NOCO Express Stores
The deal includes 33 convenience stores in western New York.
9. West Oil Sells Stores, Exits Convenience Retail Business
FR Refuel acquires Markette and Lotto Land c-stores, along with other properties.
10. TravelCenters of America to Acquire 20 Sites From Hospitality Properties Trust for $308M
The travel center operator also amends its lease terms with HPT, its principal landlord.