“The combination of TETCO’s retail and wholesale operations will make this 7-Eleven’s largest acquisition since the company accelerated its growth plan four years ago,” says Stan Reynolds, 7-Eleven executive vice president and chief financial officer. 7-Eleven signed an agreement to acquire the retail and wholesale assets of TETCO, Inc. The assets include company-operated convenience stores [...]
“As an established refiner and marketer, Tesoro provides a strong future for the business and for its employees,” says Iain Conn, chief executive of BP’s global refining and marketing business. BP reached an agreement to sell its Carson, Calif., refinery and related logistics and marketing assets to the Tesoro Corporation for $2.5 billion in cash [...]
7-Eleven completes a transaction with Strasburger Enterprises, acquiring 23 stores across the Texas market. 7-Eleven Inc. completed a transaction with Strasburger Enterprises Inc. to acquire 23 c-store locations in Texas. Strasburger Enterprises Inc. stores, operated primarily under the brand name of Quix, are located across North and Central Texas. This acquisition brings the total number [...]
The sale of 10 Road Ranger locations in Ohio and northern Kentucky is expected to close by the end of July. Speedway LLC has signed an agreement to acquire 10 convenience stores throughout Ohio and northern Kentucky from Road Ranger LLC, Reuters reported. Speedway paid for the transaction with cash and a truck stop located [...]
7-Eleven doubles its numbers from 2003 to 46,000 total stores After breaking both international and domestic store growth records last year, 7-Eleven Inc. plans to have even more growth in 2012. Last year, the chain added more than 4,600 stores throughout the world. About 600 of these stores were built, acquired or transitioned from another [...]
7-Eleven Inc. is in negotiations to acquire most of the Open Pantry Food Marts of Wisconsin chain, a move that would give the c-store behemoth with 6,800 stores across the U.S. a foothold in Wisconsin, where it currently has no stores, the Milwaukee-Wisconsin Journal Sentinel reported. 7-Eleven has reportedly applied for licenses for Open Pantry locations [...]
The coffee giant delves into fruit and vegetable juices with the debut of its new juice bar chain. Starbucks Corp. debuted its first Evolution Fresh juice bar store on Monday. The launch is expected to boost the company’s position in the $50 billion health food sector, Reuters reported. Starbucks bought Evolution Fresh for $30 million [...]
“The acquisition of Brookside is an opportunity for Hershey to expand our portfolio in this category,” says Hershey’s CEO. The Hershey Co. has reached an agreement to purchase Brookside Foods Ltd., a privately held confectionery company based in Abbotsford, British Columbia. Brookside is a chocolate confectionery company with products based on a unique formula [...]
“The travel center will serve this community through products and services as well as contribute to the local economy through jobs and tax revenue,” says Pilot Flying J CEO. Pilot Flying J recently acquired a travel center in Grand Forks, N.D., and will remodel the Pilot Travel Center to feature full amenities for professional drivers [...]
After buying Evolution Fresh Inc., Starbucks vows to create a never before seen retail model as it introduces a new health and wellness business based around the juice brand. Starbucks Corp. has acquired the San Bernadino, Calif.-based juice business Evolution Fresh Inc. for $30 million as part of a larger effort to move beyond just [...]
Sun State Oil to supply fuel to the multiple new owners that acquired the 30 properties. NRC Realty & Capital Advisors LLC’s subsidiary, NRC Realty Advisors of Florida LLC, has completed the sale of the final 30 properties formerly owned and operated by Ryan Phillips (Phillips Oil) and located in the panhandle of Florida. Sun [...]
Nine Wilson Farms stores are changing banners this year, with the rest scheduled for rebranding next year. Contractors are refurbishing; new signs are rising, and Slurpee machines are moving in as 7-Eleven Inc. undertakes the first of many equipment upgrades at Wilson Farms stores in western New York, converting them to the 7-Eleven banner. Starting [...]
“We have increased flexibility with which to pursue a wider range of strategic initiatives capable of unlocking value for our shareholders,” says Delek US Holdings CEO. Delek US Holdings Inc., a diversified energy company with assets in the petroleum refining, marketing and retail industries, has acquired the remaining 11.7% minority equity interest in Lion Oil [...]
Following its separation from Marathon Oil Corp., Marathon Petroleum is now preparing to grow its Speedway brand. Marathon Petroleum Corp., which spun off from Marathon Oil Corp. last month, is searching for acquisitions and seeking assets that meld with its strategy of refining oil and distributing the fuels produced, Reuters reported. “We have an appetite [...]
Three new stores are set to be built this fall and 20-25 new Arkansas locations are anticipated over the next five years. Kum & Go has announced aggressive expansion plans into Arkansas, where the chain plans to invest $70-80 million in the next five years and aims to create approximately 150 new jobs by the [...]