C-Store News In Brief…
The Guess Corp. in Durham, North Carolina, is seeking to acquire at least 1,000 convenience store/gas station units over the next 12 months through a subsidiary. The company is looking to acquire an average of 100 units per month, which may include branded and unbranded units. Upon completion, the company intends to re-brand and renovate the properties with innovative and sleek designs and provide enhanced customer relationship management technology. A minimum of five units in an area is required in order for the company to consider a purchase. In most instances, the company will pay full asking price for the units as a package, with payouts over a 30-day period. The company offers sellers a fast due diligence and closing process and is able to close a transaction within 72 hours. Units with or without real estate as part of the acquisition are being considered. The company is considering opportunities throughout the U.S. In addition to the retail petroleum marketing operations, the company also uses bulk petroleum marketing as a wholesale distributor. The Guess Corp. began as a luxury goods holding company in 2012 with a focus on diamonds and has expanded into other business areas…
As part of a new Pennsylvania state budget, lawmakers approved amendments to the tax code which includes a $1 per pack increase in the state cigarette tax; a new tax on smokeless tobacco; a 40 percent increase on the wholesale prices of e-cigarettes; and a 40 percent increase on the tax rate on the wholesale prices of roll-your-own cigarettes…
Fortune magazine recently unveiled its second annual 100 Best Workplaces for Millennials, and two convenience stores were named to the top 40. QuikTrip and Sheetz came in at No. 31 and No. 35, respectively, while industry suppliers Mars and Clif Bar ranked No. 63 and No. 92, respectively. To determine its list, Fortune’s research partners surveyed more than 88,000 Millennials at more than 600 companies that have been certified as a Great Place to Work.
