Core-Mark Holding Co. Inc., a marketer of fresh and broad-line supply solutions to the convenience retail industry in North America, has signed a definitive agreement to acquire the assets of Finkle Distributors Inc. (FDI) for approximately $43 million. FDI is a regional convenience wholesaler servicing customers in New York, Pennsylvania and surrounding states. Dan Finkle, [...]
BP’s Tony Hayward, whose blunders in relation handling the oil spill in the press have created an outcry, is on his way out as CEO, a U.S. government official told the Associated Press. The senior U.S. official who spoke on condition of anonymity because an announcement had not been made, told the Associated Press he [...]
Wilson Farms has remodeled its Hyde Park Boulevard location in Niagara Falls, N.Y., to include a Chester’s Chicken site inside the store. Savino Nanula, a Niagara Falls native, chairman of the board and founding partner of Wilson Farms, along with his son Paul Nanula, president and CEO of Wilson Farms, were joined by Niagara Falls Mayor [...]
Rockland, Mass.-based Tedeschi Food Shops continues its aggressive efforts to update its New England locations. Just recently it renovated two more stores-bringing the total of remodeled stores to eight in 2010. The two stores, located at 1 Bridle Road in Billerica and 210 Boston Street in Chelmsford, Mass., are now offering fresh food items like [...]
As it continues in its bid to acquire Casey’s General Stores, Alimentation Couche-Tard plans to pay each of its independent nominees to the Casey’s board more than $20,000, according to a preliminary proxy it filed with U.S. regulators, New Brunswick Business Journal reported. The nine candidates are set to receive a one-time payment and [...]
Tiger Management Groups LLC, owned by Chattanooga, Tenn. businessman Lyle Finley, has acquired 26 ExxonMobil gas stations in the Nashville area, The Tennessean reported. Finley already owns and operates 11 Exxon gas stations, and this new purchase grows his store count to 37 locations. The purchase also puts Irving, Texas-based Exxon closer to its [...]
After success with its World Wrestling Entertainment Inc. (WWE) promotion last year, 7-Eleven Inc. is climbing back in the ring this summer as a sponsor of SummerSlam), WWE’s biggest pay-per-view event of the summer. The convenience retailer has beefed up this year’s promotion, running now through Aug. 31, with double the variety of cups and [...]
VigiTrust is partnering with the NRF Foundation, the research and education arm of the National Retail Federation, to provide retailers with PCI DSS eLearning classes. The classes will be offered through the Foundation’s Universitywired program. “VigiTrust’s PCI courses will help fill a real void within the industry,” said Kathy Mance, executive director NRF Foundation. “We [...]
BP is selling its upstream assets in the U.S., Canada and Egypt to Apache Corp., outlined in a number of agreements this week. The deals together total $7 billion, and comprise BP’s Permian Basin assets in Texas and south-east New Mexico in the U.S.; its Western Canadian upstream gas assets; and the Western Desert business [...]
epay, a division of Euronet Worldwide Inc. and a prepaid and payments processor in the U.S., is integrating with Radiant Systems to offer its prepaid and payments program through the Radiant Point of Sale for Petroleum and Convenience Retail. The Spinx Co. headquartered in Greenville, S.C., was the first retailer to transact on this newly [...]
The Florida Petroleum Marketers and Convenience Store Association (FPMA) has accepted the resignation of its president and CEO, Jim Smith. Smith, a member of the FPMA Hall of Fame, was active in the association as both a marketer member and its chief executive for over 30 years. “Jim has been one of the strongest advocates [...]
Interchange relief became a reality today as President Obama signed the financial services reform bill into law. The new law contains Senator Richard Durbin’s swipe fee amendment, which is expected to result in lesser debit card interchange fees and bring critical financial relief to retailers and consumers while promoting greater competition within the credit card [...]
Alimentation Couche-Tard Inc. has increased its offer for Casey’s General Stores Inc. to $36.75 per share in an effort to persuade shareholders to back its takeover. The revised transaction has a total enterprise value of approximately $1.9 billion on a fully diluted basis, including net debt of Casey’s of approximately $28 million. Couche-Tard’s original offer was $36, [...]
Mexican Coke, now becoming more widely available in the U.S., is developing a cult following among consumers, The Grand Rapids Press reported. “(Mexican Coke) seemed so much better,” one consumer told the newspaper, adding, “It’s just not as fizzy or harsh tasting.” She’s not alone in her opinion. A Facebook page dedicated to the drink [...]
Chevron Corp.’s Australian subsidiaries signed a Heads of Agreement (HOA) with Korea Gas Corporation (KOGAS) for the delivery of liquefied natural gas (LNG) from the Chevron-operated Wheatstone natural gas project in Australia. Under the HOA, KOGAS expects to purchase 1.5 million tons per annum (MTPA) of LNG for up to 20 years from the Wheatstone [...]