C-Store News In Brief…
Global Partners LP in Waltham, Massachusetts, announced an agreement with an institutional real estate investor for the sale and leaseback of 33 gasoline stations and convenience stores for approximately $67 million. As part of the agreement, the retail sites, which are located throughout New England, will be sold to the buyer and leased to Global Partners for a period of 15 years with 20 years of contractual extension options. Eric Slifka, president and CEO of Global Partners, said the material proceeds generated will reduce debt and provide financial flexibility to reinvest in and expand….
Rick Puckett, EVP and CFO of Snyder’s-Lance, will retire on Dec. 31. The company has initiated a national search to identify a successor. Puckett will continue to serve as CFO until a candidate is selected and transitioned into the company….
The newly released NACS State of the Industry Compensation Report of 2015 has set benchmarks in compensation levels, staff turnover and benefits metrics. The newly published report compiles data from more than 80 c-store companies representing nearly 12,000 stores across the U.S. The report provides access to data dissected by firm size, region and location type to help retail companies set new fiscal year priorities, better understand underlying drivers of their company’s performance and compare their workforce investments against industry averages in key HR categories such as compensation, turnover and benefits by position and exemption status.
