Alimentation Couche-Tard Inc., Convenience Store Decisions 2007 Convenience Store Chain of the Year, locked up a $131.4-million sale and leaseback deal with Cole Capital related to 83 properties of Circle K Stores Inc. and Mac’s Convenience Stores throughout the U.S. The Laval, Quebec-based convenience store operator said it would use the proceeds to reduce its…
A Very Special Holiday Gift From Sheetz
Red Kettles are overflowing for one Pennsylvania chapter of The Salvation Army. Sheetz Inc. said it is donating its former convenience store and property in Chambersburg, Pa., to the Chambersburg Salvation Army, which already occupies an adjacent building. This gift immediately doubles the Corps existing property size and footprint, providing critical office space, the potential…
EZ Energy Raising Capital
EZ Energy Ltd.’s U.S. subsidiary EZ Energy USA Inc. has signed a letter of intent to sell up to 17 gas stations and convenience stores to a real estate investment trust (REIT) for up to $20.7 million. The properties were previously purchased from BP Products North America Inc. $15.5 million. EZ Energy will lease back…
motiva transitions rhode island assets
Colbea to acquire 34 Shell-branded stations and wholesale marketing agreements. Motiva Enterprises LLC (Motiva), the company that markets Shell-branded gasoline in the eastern United States, has accepted an offer from Colbea Enterprises LLC (Colbea) to acquire Motiva’s interest in 34 Shell-branded retail sites in the state of Rhode Island. Motiva holds a partial ownership position…
lewis group acquires shell stores
Deal includes 10 stations and increases minority ownership of the fuel brand. Building on its commitment to increase minority opportunities throughout the Shell retail network, Motiva Enterprises LLC said The Lewis Group LLP (TLG) will acquire 10 of its Shell-branded convenience stores in the Houston marketer. “We are proud to be members of the Shell-branded…
profits jump at caseys
C-store chain also announced Ronald Lamb will retire as an executive officer effective April 30. Casey’s General Stores Inc. said second quarter profits increased 62% to $27.7 million from $17.2 million a year ago. Sales for the quarter, which ended Oct. 31, totaled $1.19 billion, up from $1 billion a year ago. Ankeny, Iowa-based Casey’s,…
tescos us plans taking flight
UK megaretailer looking at dozens of California sites for rapid expansion. Only three weeks after opening its first American stores, near Los Angeles, Tesco is looking at dozens of sites in Northern California as it seeks to extend its Fresh & Easy convenience chain. It is part of the supermarket’s expansion drive in the U.S.…
mister car wash acquires car wash headquarters
Deal includes eight stores in Florida, Alabama and Texas. Mister Car Wash has acquired the Car Wash Headquarters chain, adding eight stores in Tampa, Fla., Birmingham, Ala., and Mesquite, Texas under its widening umbrella. Financial terms were not disclosed. The company believes the latest acquisition makes Mister Car Wash the second largest carwash chain in…
refining drives chs earnings
Revenues for fiscal year 2007 were $17.2 billion, up 20% over $14.4 billion a year earlier. CHS Inc., the St. Paul, Minn.-based refiner-marketer, reported record net income for fiscal 2007 of $750.3 million. The earnings for the 12 months ending Aug. 31, 2007, compared with net income of $490.3 million for fiscal 2006. Revenues for…
usda grant to fund rural store initiative
Kansas State University program helps small, local communities survive. When a small town loses its grocery store, it loses not just an economic driver, but a bit of its identity, too. “If your store closes, that says bad things about your town and the direction it’s headed,” said David Procter, director of the Center for…