Differences have been settled between 22nd Century Group and former CEO. 22nd Century Group Inc. (the Company) and Joseph Pandolfino, the former CEO and founder of the Company, have settled all litigation and disputes between the parties. The details of this settlement have been disclosed by the Company in its filing with the U.S. Securities…
Anheuser-Busch and Molson Coors Complete Divestiture
A $12 billion transaction has been completed between Anheuser-Busch and Molson Coors. A joint venture has been forged between Anheuser-Busch InBev and Molson Coors Brewing Co. regarding a complete divestiture of SABMiller plc’s interest in MillerCoors LLC in the U.S. and Puerto Rico. The transaction is valued at $12 billion and is conditional on the completion of…
TravelCenters Third Quarter Financial Results
During the first three quarters of 2015, TA invested $319.4 million to acquire and renovate a combined 153 travel centers and convenience stores. TravelCenters of America LLC has announced financial results for the three and nine months ended Sept. 30, 2015: Business Commentary Fuel sales volume for the 2015 third quarter increased by 36.7 million…
McDonald’s CEO Weighs in on Refranchising Plans
McDonald’s officials are confident about the current turnaround plan. McDonald’s Corp. president and CEO Steve Easterbrook and members of senior management provided an update on the company’s Turnaround Plan during the its recent investor meeting. “The cornerstone of our System is our powerful and enduring brand. While we are still in the early stages of…
Murphy USA Announces Financial Results
Murphy USA third quarter financial results reveal that the company is on track with its organic growth plan. Murphy USA Inc. has released its financial results for the three and nine months ended Sept. 30, 2015. Three-month results For the three month period ended Sept. 30, 2015, the Company reported net income of $60.5 million or…
7-Eleven Closes Deal on 101 Gasoline Locations
7-Eleven may rebrand newly-acquired stores. 7‑Eleven Inc. and its wholly-owned subsidiary, SEI Fuel Services Inc., acquired 101 gasoline locations in Florida from Biscayne Petroleum LLC and Everglades Petroleum LLC. The acquisition, advised by Matrix Capital Markets Group Inc., consists of 94 controlled real estate locations, seven fuel-supply-only contracts and some related assets. These operations are primarily…
Weigel’s Wins Blue Ribbon
Weigel’s takes on the competition and wins a blue ribbon for its chocolate milk. Weigel’s recently won its third blue ribbon in the Tennessee State Fair for its chocolate milk. Weigel’s also won blue ribbons for its chocolate milk in 2011 and 2014. This year’s competition was held at the Fairgrounds in Nashville, Tenn. from Sept. 11-20. “We are pleased…
High Hopes for Holiday Shopping
Will lower gas prices lead to increased holiday spending? As gas prices remain low, industry professionals hope that consumers will spend more this holiday season. According to a survey from the National Association of Convenience Stores (NACS), more than one in four (26%) consumers expect to increase their spending this month, a seven-point jump over the past…
7-Eleven Offers Veteran Franchisee Opportunities
7-Eleven wants to help retired veterans live the American Dream. 7-Eleven Inc. is working to provide more franchise opportunities to qualified men and women who have served in the U.S. Armed Forces. The retailer has set a goal of recruiting 100 veterans and providing $2 million in discounts by the end of 2016. Launched in the…
How To Weather the Storm
From crafting a plan to installing automatic generators, stakeholders in areas that experience hurricanes share best practices for emergency preparedness. By Brad Perkins, Contributing Editor With the damage from Super Storm Sandy fresh in their minds, convenience store owners would have been right to be concerned when Hurricane Joaquin barreled toward the Atlantic Coast in…