Latest news with #convenienceStores
Yahoo
3 days ago
- Business
- Yahoo
EG America takes over 9 Neon Marketplace c-stores in the Northeast
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. EG America has acquired nine leasehold convenience stores in the Northeast for an undisclosed amount, the company announced this week in its earnings update. A company spokesperson was unable to share which states and cities these stores are located in or who the landowner is for each site. However, a report by WPRI confirmed that they're under the Neon Marketplace banner and located across Rhode Island and Massachusetts. EG America said in its earnings update it will rebrand these sites to its Cumberland Farms banner. EG America has been on a selling spree for the past few years, but this small-scale purchase may indicate the retailer is ready to refocus on acquisitions. EG America, which has about 1,500 c-stores across 30 states, sold over 150 convenience stores and executed sale-leaseback deals for hundreds of others between early 2023 and late 2024 to help its parent company, EG Group, pay down debt. Last December, EG Group said a significant chunk of its debt had been paid. EG America's latest nine-store acquisition, which occurred earlier in May, marks the first of what could be many purchases now that its debt load has eased. In an interview with C-Store Dive last month, former CEO John Carey said the company was looking to grow inorganically, especially on the East Coast, where it operates in Connecticut, Maine, New York, New Hampshire, Vermont, Rhode Island and its home state of Massachusetts. The retailer's latest deal signals that it intends to grow the Cumberland Farms banner. Carey — who has since been replaced by EG Group CEO Russell Colaco — said last month that EG America wanted to prioritize rebranding more c-stores to Cumberland Farms, continuing an initiative that began in early 2022. With nearly 600 locations, Cumberland Farms is EG America's largest chain, but the retailer has nine others, including TurkeyHill, QuikStop, Loaf'N Jug and TomThumb. 'It means we want to have one offer… What we haven't done a good job of is pulling the best from [all of our brands] and creating it,' Carey said last month in reference to unifying EG America under the Cumberland Farms banner. Recommended Reading With new faces at the helm, EG America is ready for takeoff
ABC News
3 days ago
- Business
- ABC News
Calls for tobacco sales ban at supermarkets
The Lung Foundation of Australia wants to see an outright ban on the sale of cigarettes and tobacco products in major supermarkets, with some health experts saying it should also be extended to convenience stores.
Yahoo
3 days ago
- Business
- Yahoo
Weigel's names new CEO
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Weigel's, which operates 85 convenience stores in Tennessee, has appointed Douglas Yawberry as CEO, the company announced on Friday. Weigel's CEO position had been vacant since former leader Ken McMullen passed away in 2021, although Yawberry has been 'running everything' since that time, a spokesperson said in an email. Yawberry has been Weigel's president and chief operating officer since 2017. He now assumes leadership of the company that has placed foodservice and tech-driven loyalty programs at the forefront of its business in recent years, highlighted by its food-focused store design, evolving menu, and customer and employee rewards platforms. Yawberry joined Weigel's as director of operations in 2008 and held the role for three years before becoming vice president of operations. During his time with the convenience retailer, Weigel's has nearly doubled its store count and, in 2023, opened its largest location to date. This 6,400-square-foot store model features open-production kitchens and the Weigel's Kitchen food program, offering items like fried chicken, pizza, salads, sub sandwiches, breakfast burritos and meat-filled biscuits. Prior to joining Weigel's, Yawberry was a vice president with Midwest retailer Huck's Convenience Stores for over a decade and then worked for oil company Valvoline for five years, according to his LinkedIn bio. He was also a market manager for KFC earlier in his career. Besides his duties with Weigel's, Yawberry serves on both the NACS and Ambest Travel Centers boards of directors. In 2024, he was named the NACS Fuel Innovator of the Year. Recommended Reading Weigel's rolls out $6 menu Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
The Billion-Dollar Battle to Own 7-Eleven
7-Eleven convenience stores perfected their model in Japan, where diverse, fresh-food offerings attract locals and tourists alike. But the company, which had its start long ago in the US, has struggled to replicate that success elsewhere—particularly in the country where it was born. Now a new player believes it can do a better job at creating a global convenience store empire. Canadian company Couche-Tard, owner of Circle K stores, has made an unsolicited bid to buy Seven & i Holdings, the parent of 7-Eleven. On the Bloomberg Originals mini-documentary Why There's a Battle to Own 7-Eleven, we discuss how the famous chain had its start and why its Japanese locations are so different from those in the US.
Yahoo
26-05-2025
- Business
- Yahoo
Casino Group and H&S Invest Holding plan to open 210 convenience stores in Morocco with by 2035
Casino Group and H&S Invest Holding plan to open 210 convenience stores in Morocco with by 2035 Casino Group and H&S Invest Holding sign a strategic partnership agreement to deploy the French Group's brands in Morocco. The aim of this exclusive partnership is to open more than 210 Franprix and Monoprix brand stores over the next ten years throughout Morocco. The partnership marks a decisive step in Casino Group's new international expansion strategy, which is leveraging franchising to strengthen the presence of its emblematic brands outside of France. Already present in more than 30 countries, the Group is already a partner of 472 franchised stores outside Metropolitan France representing 3.5% of its net sales in 2024. For H&S Invest Holding, a Moroccan multi-business group specialising in essential sectors, this partnership is part of a drive to diversify its Retail division. By introducing Franprix and Monoprix in Morocco, the group aims to enrich the country's convenience retail offering with innovative concepts combining quality food products, fast food, everyday services and a digitalised customer first stores will open in 2026, with positioning based on quality, convenience, a range of carefully selected fresh produce and a high proportion of local products. Philippe Palazzi, Chief Executive Officer of Casino Group, said:'This partnership with H&S Invest Holding is fully in line with our strategy of expanding internationally through franchising. It illustrates our ability to leverage the strength of our brands, our logistics know-how and our expertise in convenience retailing in a market as dynamic as Morocco. Thanks to H&S Invest Holding's deep local roots and solid operations, we will be able to rapidly roll out a network of high-performance convenience stores in step with changing consumer habits in Morocco.' Moncef Belkhayat, Chairman of H&S Invest Holding, added:'We are proud to be partnering with a major international player like Casino Group. This strategic partnership will enable us to offer a new customer experience in the Moroccan market. By 2030, we aim to create more than 1,000 direct and indirect jobs across the Kingdom through the roll-out of the Franprix and Monoprix banners.'Founded in 2005, H&S Invest Holding is a multi-sector Moroccan group operating in manufacturing, logistics, real estate and media & communication. Active in essential sectors, it is a key player in the production and the distribution of food, hygiene, beauty and health products. With a strategy based on excellence, innovation and governance in line with international standards, the group has established itself as a vital component of the national economic Group is a recognised leader in the French retail market. It operates the country's largest network of convenience stores, with some 7,500 points of sale, and ranks second in online non-food retailing through its Cdiscount brand. Thanks to its more than 25,000 employees, driven by their passion for retailing and customer service, the Group has built a portfolio of strong, dynamic, complementary brands and generated gross merchandise volume (VAT included) of €12.4 billion in 2024. With a clear vision of how its industry is changing, the Group is committed to accelerating the transformation of retail. To this end, all its retail activities are positioned in the future-facing convenience, premium and e-commerce segments. For more information, visit and Monoprix are two emblematic urban convenience retailing brands in France. specialises in convenience stores in towns and cities. At the heart of neighbourhood life, Franprix stores offer urban dwellers choice, quality products and innovative services. The ever-evolving brand continues to reinvent the local neighbourhood store to meet its customers' needs. stands out for its 'everything under one roof' offering that caters to all budgets. It provides a broad spectrum of food, fashion, home, beauty and leisure products. In addition to private-label products, customers can find exclusive major brand offers and premium brand collaborations. This announcement is for information purposes only, in accordance with currently applicable laws and regulations, and does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. *** ANALYST AND INVESTOR CONTACTS Charlotte Izabel – cizabel@ – Tel: +33 (0)6 89 19 88 33 Investor Relations – IR_Casino@ – Tel: +33 (0)1 53 65 24 17 PRESS CONTACTS Casino Group – Communications Director Stéphanie Abadie – sabadie@ – Tel.: +33 (0)6 26 27 37 05 Press Office – directiondelacommunication@ – Tel: +33 (0)1 53 65 24 29 Attachment 2025-05-26 - PR - Casino Group H&S Invest Holding 210 stores Morocco 2035Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
