The Most Talked About C-Store Acquisitions of 2023

NACS Daily looks back at some of the industry’s biggest mergers and acquisitions.

December 21, 2023

The trend of mergers and acquisitions within the industry continued in 2023, and some of them were massive.

Here’s a look at some of the most talked about c-store acquisitions from this year.

1. Maverik Acquires Kum & Go

In April, Maverik announced it had purchased Iowa-based Kum & Go, acquiring over 400 c-stores as well as Solar Transport, a tank truck carrier and logistic provider owned by the Krause Group. Combined, the company has over 800 units across 20 states in the Midwest and Rocky Mountain region, making Maverik one of the ten largest convenience retailers by store count.

For insights on the acquisition, read a NACS Daily exclusive interview with Maverik CEO Chuck Maggelet.

2. RaceTrac Acquires Gulf Oil LLC

Atlanta-based RaceTrac announced in July that its wholly owned wholesale fuel supply and trading subsidiary, Metroplex Energy, signed a definitive agreement to acquire Gulf Oil LLC. As part of the transaction, the convenience retailer acquired the Gulf Oil brand in the United States and Puerto Rico, all Gulf-branded distributor and license agreements comprising approximately 1,100 branded sites and exclusive rights to market fuel at 11 Massachusetts Turnpike service plaza locations. The deal was finalized earlier this month.

3. BP to Buy TravelCenters of America for $1.3 Billion

In February, BP agreed to acquire TravelCenters of America, the nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center brands, for roughly $1.3 billion. The move accelerated BP’s reentry into the retail landscape, which began in 2021 with its acquisition of Thorntons.

4. 7-Eleven Australia Acquired for A$1.71 Billion

7-Eleven Australia, which announced it was for sale earlier this year, was acquired by Japan’s Seven and i Holdings, a conglomerate that controls more than 80,000 7-Eleven stores around the world. Through the acquisition, Seven and i Holdings gains 751 stores across Australia. The deal is expected to close in early 2024.

5. Casey’s Acquires Select EG Group Stores

In August, Casey’s announced that it will add 63 stores to its count from the EG Group. The agreement includes stores in Tennessee and Kentucky that operate under the Minit Mart and Certified Oil brands. The company soon followed with its acquisition of W. Douglass Distributing’s 22 Lone Star convenience stores, marking Casey’s first locations in Texas.

Come back tomorrow for the final “best of” of the year!