Altria Group Inc. has made two big announcements. The company has exchanged its entire minority economic investment in JUUL Labs and has agreed to acquire NJOY Holdings. Altria exchanged its minority stake in JUUL for a non-exclusive, irrevocable global license to certain of JUUL’s heated tobacco intellectual property. “We believe exchanging our JUUL ownership for…
EG Group Enters Sale, Leaseback of East Coast Assets for $1.5 Billion
EG Group agreed to the sale and leaseback on a portfolio of its sites on the U.S. East Coast to Realty Income Corp. for a gross consideration of approximately $1.5 billion. This portfolio — which EG America will continue to operate and trade — comprises 415 store assets under the Cumberland Farms, Fastrac, Tom Thumb…
USPS Progresses Toward Electrification
The United States Postal Service (USPS) moved forward with awarded contracts for 9,250 commercially available left-hand drive (LHD) battery electric vehicles (BEVs) and initial orders for more than 14,000 charging stations to be deployed at Postal Service facilities. These awards are consistent with the vehicle electrification strategy announced by USPS in December 2022, accompanied by…
SAS Chief Operating Officer Retires, New President Appointed
S. Abraham & Sons (SAS) has announced the retirement of its chief operating officer, Jim Leonard, and the promotion of George Bennett to president. Leonard began his career with SAS in 1988 working with the Abraham Seniors in all facets of the company, including vice president, administration and chief financial officer. In 2019 Leonard was…
ARKO Closes 23rd Acquisition
ARKO Corp. announced that subsidiaries of ARKO have completed its previously announced acquisition, acquiring the assets of Transit Energy Group and its affiliates (TEG), which operates as of closing approximately 135 convenience stores, supplies fuel to approximately 190 independent dealers, and operates a transportation business with 58 trucks and 78 tanker trailers that supports the…
McLane Adds Two Strategic Executive Roles
McLane Co. Inc. announced the promotions of two senior leaders to new executive roles. The promotions were made to accelerate the company’s vision and goals for 2023 and beyond. Eric Hildenbrand has been promoted from senior vice president and general counsel to chief strategy officer. In this role Hildenbrand will leverage his extensive business and…
Jiffy Trip Opens First Site in Arkansas
Jiffy Trip opened its first location outside of Oklahoma in Siloam Springs, Ark., according to Northwest Arkansas Newspapers LLC. Jiffy Trip opened its first location in Cherokee, Okla., in 1972. A third-generation, family-owned business, the c-store chain has expanded to larger markets in Oklahoma and opened stores with amenities such as JT’s Restaurants, self-checkouts, and…
Neon Marketplace Offers Local Goods
Neon Marketplace partnered with Mable to bring locally and regionally made specialty items to Neon stores in Rhode Island and Massachusetts. Mable is a Boston-based wholesale platform representing over 3,000 emerging, better-for-you food brands with a drop ship model. “We are thrilled to announce this partnership with Mable,” said Lisa Ritacco, category manager, Neon Marketplace.…
Refuel Relaunches Mobile App
Refuel has relaunched its mobile app with an enhanced digital customer experience and new capabilities for charitable initiatives. Refuel released its new app in the fourth quarter of 2022, receiving over 100,000 loyalty sign-ups in just four months. Keeping in line with Refuel’s dedication to social responsibility in its communities, members can spend 1,000 reward…
2022 Brings Record Revenue and Profitability to ARKO
ARKO Corp. announced its 2022 financial results, which includes record numbers compared to 2021. The operating income for Q4 was $33.7 million, compared to $28.4 million in the prior year’s quarter. For the year, operating income was $167 million, compared to $142.1 million in 2021. The net income for Q4 was $12.86 million, compared to…