New acquisition brings store count closer to the 100-unit mark. Road Ranger LLC has recently completed the acquisition of seven c-store and travel centers from four separate companies. Three stores from Dubuque, Iowa-based Dubuque Discount Gas were acquired earlier this month, and last month the company acquired a single store from Okawville, Ill.-based Karko LLC.…
motiva sells connecticut sites
CPD acquires 18 stores and the supply agreements for 53 independent sites. Motiva Enterprises LLC, marketer of Shell-branded gasoline in the Eastern U.S., reached a deal to sell 18 gas stations and convenience stores in Connecticut to CPD Parent Properties LLC, a subsidiary of Chestnut Petroleum Distributors Inc., a New Paltz, N.Y.-based wholesaler and distributor.…
chevron to sell proprietary credit businesses
GE Money and FleetCor to consumer and commercial cards. Chevron U.S.A. Inc. and Chevron Credit Bank, N.A., announced today that it has reached agreements to sell its consumer and commercial credit card businesses. Chevron has selected GE Money Bank, N.A. to own and operate its Chevron- and Texaco-branded consumer credit cards, and FleetCor Technologies Operating…
conphil extends credit fee reduction
Marketers offered lower processing rates through Sept. 30. ConocoPhillips said its temporary credit card processing fee reduction on all Visa, MasterCard, Discover and American Express transactions has been extended through Sept. 30. The oil company, which first announced the fee reduction on May 3, said the extension is aimed at helping its marketers compete more…
chevron shines at global marketing event
Touting its dual branding strategy and ExtraMile convenience store concept, retailers offered concessions on gift cards and credit processing. by John Lofstock, Editor Chevron Corp.’s North American Marketing Convention, which wrapped up in Denver on Saturday, gave Chevron and Texaco operators plenty to be excited about. In addition to announcing it’s dual branded fuel strategy…
convenience store decisions power 25
by John Lofstock, Editor Convenience Store Decisions’ Power 25 recognizes industry pioneers, association executives and lawmakers that shape the way the convenience store industry operates. These influential business leaders are being selected for the lasting contributions they have made to the convenience channel and the impact their influence has on shaping the future of convenience…
susser shows secondquarter growth
Strong margins shown for the fiscal year. Susser Holdings Corp. has revealed the financial results for the second quarter of 2007, reporting earnings that raised 67% from last year, helped by better-than-expected retail fuel margins and good gains in merchandise sales, both overall and on a same-store basis. The company also raised its merchandise same-store…
the pantry offers stock repurchase program
Sinking numbers cause company to reclaim shares. Stanford, N.C.-based The Pantry Inc.’s Board of Directors has authorized a share repurchase program of up to $35 million for each of fiscal 2007 and fiscal 2008 but not to exceed an aggregate of $50 million. The program authorizes the company to repurchase shares of the company’s common…
rennie petroleum assets head to auction
Matrix Capital to manage the sale of the bankrupt Virginia chain. As part of its bankruptcy proceeding, Rennie Petroleum Corp. said it would sell its chain of 24 convenience stores along with its motor fuels supply agreements to an additional six stores through an auction to be managed by Matrix Capital Markets Group Inc. The…
couchetard takes stock of its future
U.S./Canadian marketer launches share repurchase program. Alimentation Couche-Tard Inc., Convenience Store Decisions 2007 Chain of the Year, said that the Toronto Stock Exchange has approved its share repurchase program, authorizing the Laval, Quebec-based company to purchase up to 2,808,765 of the 56,175,312 Class A multiple voting shares and 7,332,066 of the 146,641,334 Class B subordinate…