Convenience Store Kiosks
2023 saw three merger-and-acquisition (M&A) deals that had notable impacts on the U.S. convenience store industry in terms of size and scope of individual companies.
The first was Houston-based bp’s pickup of Westlake, Ohio-based TravelCenters of America Inc. (TA) for $1.3 billion. The deal added 280-plus locations to bp’s network, complementing its existing off-highway convenience and mobility business.
The second was Lawrenceville, Ga.-based Majors Management Inc.’s purchase of roughly 200 MAPCO Express sites from a subsidiary of COPEC, a South America-based retail company. The two-part sale of MAPCO saw Laval, Quebec-based Alimentation Couche-Tard Inc. take 112 of the convenience and fuel sites, with the remaining locations from MAPCO’s 300-plus-store network going to Majors Management.
The third was Salt Lake City-based Maverik — Adventure’s First Stop’s acquisition of Des Moines, Iowa-based Kum & Go LC. The purchase added 400-plus convenience stores to Maverik’s network, more than doubling the retailer’s store count.
Because of these three deals, the 2024 Convenience Store News Top 100 ranking looks a little different compared to last year, as bp moved up the ranks to No. 5 (from No. 31 in 2023), Maverik jumped to No. 11 (from No. 16 last year), and Majors Management climbed to No. 19 (from No. 46 in 2023).
Still, with the exception of bp cracking into the top five, the companies atop this year’s list are a carbon copy of last year. Capturing the top five spots on the 2024 Top 100 are Irving, Texas-based 7-Eleven Inc. with 12,577 stores; Couche-Tard with 5,851 stores; Ankeny, Iowa-based Casey’s General Stores Inc. with 2,663 stores; Westborough, Mass.- based EG America with 1,568 stores; and bp with 1,540 stores, according to TDLinx, which partners with CSNews for this annual report.
Rounding out the top 10 are Richmond, Va.-based GPM Investments LLC (1,515 stores); El Dorado, Ark.-based Murphy USA Inc. (1,133 stores); Tulsa, Okla.-based QuikTrip Corp. (1,060 stores); Media, Pa.-based Wawa Inc. (1,050 stores); and La Crosse, Wis.-based Kwik Trip Inc. (858 stores).
Editors Note — As of 2024, there are approximately 1 million convenience stores globally. Among the top convenience store chains, 7-Eleven Inc. leads with 12,577 stores, followed by Couche-Tard with 5,851 stores, Casey’s General Stores Inc. with 2,663 stores, EG America with 1,568 stores, and bp with 1,540 stores. These numbers reflect the scale of convenience retail across various countries and regions.
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