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 [...]
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 [...]
“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 [...]
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. [...]
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 [...]
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 [...]
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 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 [...]
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 [...]
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 [...]
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 [...]
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 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 [...]
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 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 [...]