Refuel plans rapid expansion through acquisitions and a $50 million investment in new builds as it refreshes sites to compete in a burgeoning South Carolina market.
Refuel convenience stores burst into the spotlight this past May when it closed two acquisitions alongside its private equity sponsor, First Reserve, immediately increasing its store count more than sixfold — from five to 33 c-stores — with the acquisitions of Hartsville, S.C.-based West Oil and Bishopville, S.C.-based Bishopville Petroleum.
The Mt. Pleasant, S.C.-based chain has been pursuing an ambitious growth trajectory ever since that includes reimaging and updating acquired sites to the Refuel brand. Refuel is now investing $50 million in new-to-industry c-stores throughout the Charleston, S.C. market. All the while, it’s thundering aggressively toward its goal of becoming a 100-plus store chain in less than two years through acquisitions and new builds.
As it grows, it’s updating its foodservice offering to include bean-to-cup coffee and Refuel’s proprietary fried chicken program; rolling out a new smartphone app that includes loyalty and mobile payment; and expanding its car wash business.