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12/21/2021

Year in Review: The Top M&A Deals of 2021

7-Eleven closed on its $21-billion Speedway acquisition, as Casey's made strides in its strategic plan initiatives.
Danielle Romano
Managing Editor
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Casey's made strides in its strategic plan initiatives.

NATIONAL REPORT — Although the health and safety of their customers and associates during the ongoing COVID-19 pandemic remained top of mind for convenience store retailers in 2021, operators forged ahead in their plans for growth and expansion across the channel.

In the most notable deal, 7-Eleven Inc. closed on its $21-billion acquisition of Marathon Petroleum Corp.'s Speedway LLC network, while Murphy USA began to realize the synergies of its QuickChek Corp. integration. Though other moves did not carry such price tags, merger and acquisition (M&A) activity proved that the channel is still an attractive area to do business.

These are the top 10 M&A headlines of 2021, as reported by Convenience Store News Online:

1. Marathon Petroleum & 7-Eleven Close Speedway Acquisition
The $21-billion deal boosts 7-Eleven's presence to 47 of the 50 most populated metro areas in the U.S.

2. Murphy USA Finding Wins in QuickChek Integration
The company is increasingly confident in achieving its three-year synergy estimate of $28 million.

3. Circle K Announces Sale of 350-Plus Stores in North America
Casey's General Stores Inc. is picking up 49 of those sites in Oklahoma for $39 million.

4. Parkland USA Adds Another Deal to Its Acquisition Spree
The transaction with Lynch Oil will complement Parkland's Pacific Northwest growth platform.

5. Refuel Sets Its Sights on At Least Tripling Its Current Store Count
With the closing of its seventh acquisition, the company will operate nearly 130 convenience stores.

6. A Done Deal: BP Takes Full Ownership of Thorntons
The transaction marks the company's re-entrance into fully owned and operated U.S. convenience stores.

7. TravelCenters of America Forges Ahead With Multi-Pronged Growth Strategy
The retailer is focusing on acquisitions, new builds, site refreshes, and franchising.

8. Casey's Makes Strides in Its Strategic Plan Initiatives
The retailer has added 150 locations to date in its 2022 fiscal year.

9. Shell to Acquire Timewise Stores & Establish Foundation to Grow Company-Owned Network in U.S.
The deal includes 248 company-owned sites and 117 supply agreements with independently operated locations.

10. Sprint Food Stores Agrees to Sell Chain to EG Group
The 34 locations will expand EG's presence in Georgia and South Carolina.

About the Author

Danielle Romano is Managing Editor of Convenience Store News. Read More