Casey’s Announces $500 Million Recapitalization Plan

Ankeny, Iowa-based Casey’s General Stores Inc.’s board of directors has unanimously approved a $500 million recapitalization plan for the company and has reaffirmed its strategy to continue to execute upon its growth plan. The recapitalization plan is expected to be executed through a modified “Dutch auction” self tender offer for up to $500 million of

Gasoline Pushes Higher

By Brian L. Milne, Refined Fuels Editor, Telvent DTN After inching off a one-month low last week to $272.2 gallon, the U.S. retail gasoline average is poised to post its second straight weekly increase, following wholesale costs higher. The US price benchmark for gasoline, the Reformulated Blendstock for Oxygenate Blending futures contract that trades on

Robert Dudley Promoted To CEO of BP

BP officially announced today that Tony Hayward is stepping down as CEO and being replaced by Robert Dudley effective Oct. 1, the Associated Press reported. As an American, Dudley marks BP PLC’s first ever non-British chief executive, the company said as it reported a record quarterly $17 billion loss and set aside $32.2 billion to

Lettieri’s Combats Brand War

Lettieri’s has launched a ‘Counter Intelligence’ initiative, partnering with retailers nation-wide to highlight branded foodservice. According to David Poplau, director of marketing and sales support at Lettieri’s, the company’s new Counter Intelligence program was created to convert drab unprofitable counter space into a highly visible and profitable food marketing magnet. “We want to grab the customer’s attention

Core-Mark To Acquire Finkle Distributors Inc.

Core-Mark Holding Co. Inc., a marketer of fresh and broad-line supply solutions to the convenience retail industry in North America, has signed a definitive agreement to acquire the assets of Finkle Distributors Inc. (FDI) for approximately $43 million. FDI is a regional convenience wholesaler servicing customers in New York, Pennsylvania and surrounding states. Dan Finkle,

BP’s Hayward To Be Replaced

BP’s Tony Hayward, whose blunders in relation handling the oil spill in the press have created an outcry, is on his way out as CEO, a U.S. government official told the Associated Press. The senior U.S. official who spoke on condition of anonymity because an announcement had not been made, told the Associated Press he

Wilson Farms Adds Chester’s Chicken

Wilson Farms has remodeled its Hyde Park Boulevard location in Niagara Falls, N.Y., to include a Chester’s Chicken site inside the store. Savino Nanula, a Niagara Falls native, chairman of the board and founding partner of Wilson Farms, along with his son Paul Nanula, president and CEO of Wilson Farms, were joined by Niagara Falls Mayor

Tedeschi Celebrates Renovations

Rockland, Mass.-based Tedeschi Food Shops continues its aggressive efforts to update its New England locations. Just recently it renovated two more stores-bringing the total of remodeled stores to eight in 2010. The two stores, located at 1 Bridle Road in Billerica and 210 Boston Street in Chelmsford, Mass., are now offering fresh food items like

Couche-Tard Pays Nominees $20,000 Each

As it continues in its bid to acquire Casey’s General Stores, Alimentation Couche-Tard plans to pay each of its independent nominees to the Casey’s board more than $20,000, according to a preliminary proxy it filed with U.S. regulators, New Brunswick Business Journal reported.   The nine candidates are set to receive a one-time payment and

Tiger Management Acquires 26 Exxon Stations

Tiger Management Groups LLC, owned by Chattanooga, Tenn. businessman Lyle Finley, has acquired 26 ExxonMobil gas stations in the Nashville area, The Tennessean reported. Finley already owns and operates 11 Exxon gas stations, and this new purchase grows his store count to 37 locations.    The purchase also puts Irving, Texas-based Exxon closer to its

7-Eleven, WWE Team for SummerSlam

After success with its World Wrestling Entertainment Inc. (WWE) promotion last year, 7-Eleven Inc. is climbing back in the ring this summer as a sponsor of SummerSlam), WWE’s biggest pay-per-view event of the summer. The convenience retailer has beefed up this year’s promotion, running now through Aug. 31, with double the variety of cups and

ELearning Classes Teach PCI Compliance

VigiTrust is partnering with the NRF Foundation, the research and education arm of the National Retail Federation, to provide retailers with PCI DSS eLearning classes. The classes will be offered through the Foundation’s Universitywired program. “VigiTrust’s PCI courses will help fill a real void within the industry,” said Kathy Mance, executive director NRF Foundation. “We

BP Selling Upstream U.S. Assets To Apache

BP is selling its upstream assets in the U.S., Canada and Egypt to Apache Corp., outlined in a number of agreements this week.  The deals together total $7 billion, and comprise BP’s Permian Basin assets in Texas and south-east New Mexico in the U.S.; its Western Canadian upstream gas assets; and the Western Desert business

Radiant and epay Join Forces

epay, a division of Euronet Worldwide Inc. and a prepaid and payments processor in the U.S., is integrating with Radiant Systems to offer its prepaid and payments program through the Radiant Point of Sale for Petroleum and Convenience Retail. The Spinx Co. headquartered in Greenville, S.C., was the first retailer to transact on this newly

Jim Smith Resigns From FPMA

The Florida Petroleum Marketers and Convenience Store Association (FPMA) has accepted the resignation of its president and CEO, Jim Smith. Smith, a member of the FPMA Hall of Fame, was active in the association as both a marketer member and its chief executive for over 30 years. “Jim has been one of the strongest advocates

President Signs Swipe Fee Reform Into Law

Interchange relief became a reality today as President Obama signed the financial services reform bill into law. The new law contains Senator Richard Durbin’s swipe fee amendment, which is expected to result in lesser debit card interchange fees and bring critical financial relief to retailers and consumers while promoting greater competition within the credit card

Couche-Tard Boosts Casey’s Bid

Alimentation Couche-Tard Inc. has increased its offer for Casey’s General Stores Inc. to $36.75 per share in an effort to persuade shareholders to back its takeover. The revised transaction has a total enterprise value of approximately $1.9 billion on a fully diluted basis, including net debt of Casey’s of approximately $28 million. Couche-Tard’s original offer was $36,

Mexican Coca-Cola A Big Hit

Mexican Coke, now becoming more widely available in the U.S., is developing a cult following among consumers, The Grand Rapids Press reported. “(Mexican Coke) seemed so much better,” one consumer told the newspaper, adding, “It’s just not as fizzy or harsh tasting.”  She’s not alone in her opinion. A Facebook page dedicated to the drink

Chevron and KOGAS Sign LNG Agreement

Chevron Corp.’s Australian subsidiaries signed a Heads of Agreement (HOA) with Korea Gas Corporation (KOGAS) for the delivery of liquefied natural gas (LNG) from the Chevron-operated Wheatstone natural gas project in Australia. Under the HOA, KOGAS expects to purchase 1.5 million tons per annum (MTPA) of LNG for up to 20 years from the Wheatstone

BP Introduces Mobile Claims Center

BP this week is adding a new mobile claims center to supplement the existing claims centers throughout the state of Louisiana. The mobile claims center has been made to travel with four claims adjusters to assist residents filing claims throughout affected parishes in Louisiana. “This new edition to claims will allow us to reach the

Love’s Opens Five Chester’s

Love’s Travel Stops & Country Stores is opening five new Chester’s locations at its stores. The fried chicken foodservice offering is set to appear at Love’s locations in Corning, Calif., Tacoma, Wash., Des Moines (Clive), Iowa, Oak Creek, Wis., and Gary, Ind. Following the merger of Flying J Inc. and Pilot Travel Centers LLC, the

Chevron Cited After Spill

Utah regulators have cited Chevron Corp. for a pipeline leak that sent 33, 000 gallons of crude oil into Salt Lake City’s Red Butte Creek last month, the Associated Press reported. Much of the oil collected in a pond at the city’s Liberty Park and, according to regulators, oil traveled downstream into the Jordan River.

FDA Retail Training Sessions Start Today

The FDA Center for Tobacco Products is holding the first of five retailer training sessions on the new federal tobacco regulations in Boston on Monday, July 19, 2010 from 1p.m. to 5 p.m. EST.  The first training seminar is scheduled at the Boston Marriott Copley Place, 110 Huntington Avenue in Boston.  The FDA encourages retailers

Rutter’s Announces Third “Fuel Up Free” Winner

Doug Davis couldn’t believe his ears when Rutter’s Farm Stores called him to announce he had won free fuel for a year. “I thought it was some kind of joke,” said Davis, who drives a trash truck for a living and eats lunch at Rutter’s almost everyday. “I was getting ready to hang up.” Davis,

Swiss Farms Adds Drive-Through Payment Transactions

Swiss Farms, the drive-through grocery store chain headquartered in Broomall, Pa., is adding a fully secure payment processing solution through Columbus IT and Mercury Payments Systems.  The enhanced system is designed to meet Swiss Farms’ specific payment processing needs as it launched a national franchising expansion program. The chain needed to accept EBT cards and

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