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 [...]
Thirteen former Oasis convenience stores are being sold at auction in the Twin Cities metro area, and are expected to sell for less than the current debt owed on the properties, according to bankruptcy trustee John Hedback, MarketWatch reported. “It’s a definite possibility that the lender will take a loss on these, but that’s just [...]
Shell has agreed to sell the majority of its refining and marketing businesses in Finland and Sweden to Keele Oy. The terms of the transaction, which are subject to regulatory approvals, include Shell’s retail business, including some 340 service stations in Sweden and some 225 in Finland, as well as its commercial road transport (CRT) [...]
Tulsa-based QuikTrip is selling its five Springfield, Mo.-based convenience stores, The Springfield, Mo. News Ledger reported. QuikTrip is focusing its efforts on very large metropolitan markets, and Springfield no longer fits the company’s plans, noted spokesman Mike Thornbrugh. “It’s accurate that the stores ultimately will be sold,” he told the News Ledger. “But there is [...]
LIFT Retail Marketing Technology has announced the launch of its LIFT Station platform—an integrated suggestive selling point-of-sale (POS) technology for convenience stores. “We are excited to introduce this game-changing solution to the c-store industry. Retailers are looking to grow sales by being more shopper-relevant and the LIFT Station helps them do that like never before,” [...]
LUKOIL and Terror Behind the Walls at Eastern State Penitentiary-ranked the No. 1 haunted house by AOL-are launching a “Road Trip to Terror” by giving away $0.94 gas to the first 50 cars to fill up at select LUKOIL locations on designated dates beginning today, Oct. 13, 2010, at 11 a.m. The famous zombie inmates [...]
VERC ENTERPRISES AT A GLANCE VERC Enterprises was launched 35 years ago by Paul Vercollone and his father Eugene in 1975 with a single gas station/car wash in Marshfield, Mass. Leo Vercollone, the company’s current president and CEO, joined the team after he graduated from Boston College in 1977. Paul continues to oversee the [...]
Cumberland Farms Inc. is selling 61 convenience store properties through a structured sale process to be managed by Matrix Capital Markets Group Inc. Cumberland owns the real estate at all of the sites and leases them to third party tenants under triple net lease agreements. These tenants operate independent convenience stores and other retail businesses [...]
It had to happen sometime. Energy drinks, arguably the most popular convenience store product in the early-to-middle years of the decade, have begun to slow their sharp rise. Call it a correction, perhaps. A report released last month on the category by research firm Mintel showed that while growth in the category from 2005-2010 was [...]
Drug store chain Rite Aid Corp. has announced that for the four weeks ended July 24, 2010, same store sales decreased 1.1% over the prior-year period. Its July front-end same stores sales decreased 0.5%, while total drugstore sales for the four-week period decreased 2.2% to $1.886 billion, compared to $1.929 billion for the same period [...]
Hess Corp. has reported its estimated results for the second quarter of 2010, including a net income of $375 million compared with net income of $100 million for the second quarter of 2009. Exploration and production earnings totaled $488 million in the second quarter of 2010 compared with $215 million in the second quarter of 2009. [...]
Even as BP Corp. has announced that it had succeeded in its attempt to choke off the flow of oil spilling into the Gulf of Mexico, gas stations with BP branded gas continue to experience backlash from consumers angry over the disaster. In Bay Minette, Ala., yesterday a BP gas station was vandalized-with angry messages [...]
Dropcards announced it will become the first online marketer to offer clients a way to manage promotions on its site. Food and beverage brands of all sizes will be able to coordinate marketing efforts on the new Dropcards platform from inception to completion of its digital promotions. Dropcards bear aunique PIN number unlocking access to [...]
Keep up with the competition and increase sales while keeping advertising costs in line by imprinting logos or messages on cups from Printed Cup Co. Branding on cups helps develop loyalty patterns and gives the perception of value and quality. Let customers identify a business by putting the logo on the most profitable item in [...]
7-Eleven Inc. is preparing for 7-Eleven Day on July 11-the day when the world’s first convenience chain celebrates its birthday. The year 2010 marks 83 years since the company was founded in Dallas. Participating 7-Eleven stores across America and Canada will serve five million free Slurpee frozen carbonated beverages in special birthday cups on Sunday [...]