Growth has been a hot topic for the US convenience industry in 2025. From new stores and M&A to expanded technology and loyalty programs, c-store retailers are taking steps to expand their markets. Some companies are trying to make big moves.
We look at expansion plans from Casey’s General Stores and Minuteman Food Mart as well as Sunoco’s possible acquisition of Parkland Corp.
As part of its fourth quarter and full year earnings announcement this week, Casey’s disclosed that it had opened or acquired a record 270 stores in the past 12 months and expects to open about 80 during the upcoming fiscal year.
After the massive acquisition of CEFCO Convenience Stores’ 198 sites in fiscal 2025, it seems that Casey’s is looking to scale back this year, with an emphasis on building its own stores.
“We can lean heavier on the organic side, because we have a pretty developed land bank that gives us that optionality either way,” Casey’s President and CEO Darren Rebelez said during the earnings call.
Sure, after 270 locations in one year, 80 might seem like small potatoes. But it’s worth remembering that if those stores were their own banner instead of part of Casey’s, they would be one of the 100 largest c-store chains in the U.S.
Don't take your eyes on the board
While many eyes were on the will-they-won’t-they saga between Couche-Tard and 7-Eleven’s parent company, Seven & i, a different courtship was going on in the background.
Sunoco, best known as a major fuel brand in the U.S., announced last month that it had reached a $9.1 billion deal to acquire Parkland Corp., including more than 640 retail sites. A final decision will come on June 24, when Parkland shareholders vote.
It turns out Sunoco has been seeking this acquisition for quite a while, according to a recent timeline released by the two companies. Sunoco first made a $38.50 per share bid for the Canadian fuel and retail company in July 2023 — a bid that Parkland turned down for undervaluing its business. Sunoco tried again later that year with an enhanced bid, but that was also nixed.
Now, nearly two years later, Sunoco may finally get what it wants. Then we’ll just have to see if it sells the bulk of those c-stores, as it’s done in the past.
While Casey’s is aiming for 80 new stores and Sunoco may pick up over 600, not all growth that happens is at that scale.
Minuteman plans to open between five and 10 new stores in the next year. Given that it currently operates 62 locations, 10 new sites would mean an increase of over 16%. That’s nothing to sneeze at. Perhaps more interesting, the company is embracing a new logo at these sites.
Original article 3 Big Numbers: The many faces of c-store growth | C-Store Dive
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