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The Pantry Announces Tender Offer

The Pantry Inc. announced the commencement of a cash tender offer for any and all of its outstanding 7.75% Senior Subordinated Notes due 2014. In conjunction with the tender offer, The Pantry is soliciting consents from holders of the notes to effect certain proposed amendments to the indenture governing the notes. The tender offer and

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Speedway To Acquire 10 Road Ranger Sites

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

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7-Eleven Acquires 51 ExxonMobil Locations

“We met our goal of opening 650 stores in 2011, and with this acquisition 2012 is off to a great start,” says 7-Eleven spokesperson. 7-Eleven Inc. has completed the transaction with ExxonMobil to acquire retail interests in 51 North Texas sites. The transaction concluded Jan. 20; terms of the deal were not disclosed. The 51

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EZ Energy Sells 18 Stations in Lease-Back Deal

The land at two of the gas stations must be purchased before EZ Energy can complete the sale. EZ Energy Ltd., owner of Easy Trip stores, has sold 18 gas stations in the U.S. for $24.5 million in a sale and lease-back deal. The buyer will lease back the properties to EZ Energy USA Inc.

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Preparing for Future Payment Systems

First it was PCI, now retailers have to prepare for the widespread launch of Near Field Communications, which is expected to become a widely used system for making payments by smartphone in the U.S. By Howard Riell, Associate Editor. The convenience store industry is increasingly turnings its gaze outdoors to the forecourt, not only for

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Ricker’s and LIFT Announce Agreement

LIFT Station helps retailers effortlessly up-sell shoppers. Ricker Oil Co. and LIFT Retail Marketing Technology announced a multi-year agreement for a chain-wide rollout of LIFT’s suggestive selling solution – an award-winning point-of-sale technology that recommends upsell items to shoppers based on what the shopper is currently purchasing.  “We are excited to be installing the LIFT

Business-For-Sale Marketplace Flat

While the business-for-sale market has bottomed out, it is experiencing a very slow recovery, BizBuySell.com, an Internet marketplace for buying or selling a small business, reported with the release of its third quarter 2010 economic data. According to the BizBuySell.com Insight Report data, the number of closed transactions nationwide in Third Quarter 2010 was 1,117,

7-Eleven Confirms End of Discussions With Casey’s

7-Eleven Inc. has confirmed that discussions with Casey’s General Stores Inc. regarding a potential transaction have terminated. 7-Eleven made a preliminary proposal of $40 per common share for a consensual transaction on Sept. 2, 2010. After completing additional due diligence, 7-Eleven raised its offer to $43 per common share. 7-Eleven believes its revised proposal fairly

Breaking News: Shareholders Reelect Casey’s Board

Casey’s General Stores Inc. today announced that, based on a preliminary vote count provided by its proxy solicitor, shareholders have reelected by a wide margin all eight of the company’s incumbent directors to Casey’s Board of Directors at the Company’s Annual Meeting held earlier today, Sept. 23. The incumbent directors include: Diane C. Bridgewater, Johnny

Couche-Tard To Casey’s: Reveal Terms of 7-Eleven Bid

Alimentation Couche-Tard Inc. challenges Casey’s to announce any developments relating to 7-Eleven’s non-binding preliminary bid on Sept. 2, ahead of the 2010 Annual Meeting of Shareholders scheduled for Sept. 23. “We believe that disclosure of 7-Eleven’s preliminary, non-binding indication of interest is yet another attempt to obfuscate the choices that have been presented to the

Quest Oil Corp. Develops Three Phase Plan

Kerrville, Texas-based Quest Oil Corp. at the request of its shareholders and in response to numerous inquiries to the company after its acquisition of B&B Oil, has released a corporate overview on recent company developments. “Since the acquisition of B&B Oil by Quest, my team has been actively preparing inventories, replacing stock items, hiring work

Couche-Tard Acquires 12 Stores in Indiana

Alimentation Couche-Tard Inc., through its wholly-owned indirect subsidiary, Mac’s Convenience Stores LLC, is set to acquire 12 stores in the Indianapolis, Ind., area from Crystal Flash Petroleum LLC, which operates under the “Crystal Flash” banner. The transaction is anticipated to close in September 2010 and is subject to standard regulatory approvals and closing conditions. According

Casey’s Confirms Discussions with 7-Eleven

Casey’s General Stores Inc. has officially confirmed that it has entered discussions with 7-Eleven Inc., regarding a potential acquisition. On Sept. 2, 2010, Casey’s received an unsolicited preliminary proposal from 7-Eleven regarding a consensual transaction at $40 per share in cash. As disclosed in Casey’s Schedule 14D-9 filed with the Securities and Exchange Commission on

Couche-Tard Suggests That Casey’s Delay Annual Meeting

Alimentation Couche-Tard Inc. has sent a letter to the Board of Directors of Casey’s General Stores Inc. in response to the chain’s announcement that it has authorized discussions with 7-Eleven involving a possible acquisition after repeatedly rebuffing Couche-Tard’s offers for the company. In the letter, the company expressed its dismay with Casey’s refusal to discuss

Rite Aid Partners With Save-A-Lot

Rite Aid Corp. plans to add discount Save-A-Lot groceries to 10 of its stores in and around Greenville, S.C., as it tests out a partnership with Supervalu Inc., the Associated Press reported. The stores are set to be remodeled by October, and renamed Save-A-Lot Food Stores/Rite Aid Pharmacy. Rite Aid will own and operate the

Casey’s Mystery Bidder Revealed

7-Eleven is  the previously unnamed third party bidder that has offered to buy Casey’s General Stores for $2.03 billion or $40 per share, the Wall Street Journal reported. 7-Eleven’s $40-a-share offer surpasses Alimentation Couche-Tard’s bid of $38.50 a share. Casey’s has rejected Couche-Tard’s advances since it placed its first hostile bid for the company back

Tiger Management Acquires 26 Exxon Stations

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

Couche-Tard Reports Strong Fourth Quarter, Fiscal 2010

Recent financial reports from Quebec-based Alimentation Couche-Tard Inc. might make it harder for Casey’s General Stores Inc. to convince shareholders to look the other way on Couche-Tard’s  bid to buy Casey’s for $36 per U.S. share. Couche-Tard, owner of Mac’s corner store in Canada and Circle K in the U.S., surpassed financial expectations for its

More Details on Quarles Sale

7-Eleven Inc. has closed on an agreement to purchase 14 gasoline locations in Virginia from Quarles Petroleum Inc. of Fredericksburg, Va.  The stores will be re-branded as 7-Eleven operations, and these sites will continue to sell Shell gasoline. Financial details of the transaction will not be disclosed. The locations are part of a 20-store divestiture

Couche-Tard’s Bid Gains Appeal

A recent drop in the S&P 500 might help Quebec-based Alimentation Couche-Tard’s hostile US$1.9-billion ($36 per share) bid for Casey’s General Stores look like a more attractive option, an industry analyst told the Winnipeg Free Press. Martin Landry of Desjardins Securities told the paper that the 14% premium offered by Couche-Tard has increased in appeal

Quarles Petroleum Divests 20 Stores

Fredericksburg-based Quarles Petroleum’s food and convenience stores recently announced the sale of 13 stores to 7-Eleven. Six other locations, including the Opal truck stop on U.S. 29, were also recently sold to unidentified independent dealers, the Culpeper, Va., Star Exponent reported. “Quarles has decided to transition the operation of our Food Store 
locations to new

Four Puffin Stops Head To Auction

JJManning Auctioneers is selling four “Puffin Stop” Gas Stations / Convenience Stores in Maine. The stores will be auctioned off individually on Thursday, July 15, 2010. The Terms of Sale include a 10% deposit of which $20,000 Per Property must be presented in cash, certified or bank check at the auction. The remainder of the

Shareholder Sues Casey’s

One day after Casey’s General Stores Inc. received a letter from shareholder ClearBridge Advisors urging Casey’s to participate in talks with Couche-Tard, another shareholder is suing the company for neglecting stockholder interests, the Des Moines Register reported. West Des Moines, Iowa attorney J. Barton Goplerud sued Ankeny, Iowa-based Casey’s on Tuesday on behalf of veterinarian

Pilot And Flying J Complete Merger

The Federal Trade Commission (FTC) yesterday gave final approval to Flying J to merge its travel plaza business with Pilot Travel Centers, Truckinginfo.com reported. The merger, effective July 1, is expected to help Flying J emerge from Chapter 11 bankruptcy protection and create an entity of more than 550 interstate travel centers and travel plazas

Loves To Acquire 30 Flying J / Pilot Locations

Pilot Travel Centers and Flying J are planning to divest about 30 locations (10-15 of which are Pilot locations) to Love’s Travel Stops and Country Stores, for an estimated $3 million to $5 million per location, The Trucker reported. The move is an attempt by Pilot and Flying J to alleviate concerns the Federal Trade

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