After crunching the numbers, the 2023 Convenience Store News Top 100 report reveals that just six convenience channel retailers made notable jumps up the ranks, led by Houston-based Break Time Corner Market LLC, which rose from No. 67 in 2022 to the midway mark of No. 50 in 2023.
Six companies also cracked into this year’s Top 100, led by Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US, following its acquisition of the Timewise brand from Houston-based Landmark Industries.
That being said, the top five chains remain intact. Taking the No. 1 spot for another year is 7-Eleven Inc. The Irving, Texas-based retailer has a total U.S. store count of 12,763 locations, according to TDLinx, which partners with CSNews for this annual report.
7-Eleven is again followed by Laval, Quebec-based Alimentation Couche-Tard Inc. (5,716 c-stores), Ankeny, Iowa-based Casey’s General Stores Inc. (2,489), Westborough, Mass.-based EG America (1,681) and Richmond, Va.-based GPM Investments LLC (1,491).
Rounding out the top 10 are El Dorado, Ark.-based Murphy USA Inc. (1,105 stores), Media, Pa.-based Wawa Inc. (998), Tulsa, Okla.-based QuikTrip Corp. (992), La Crosse, Wis.-based Kwik Trip Inc. (829) and Altoona, Pa.-based Sheetz Inc. (679).
As evidenced by the slight movements up and down the Top 100, deals on a smaller scale did get done last year, but blockbuster transactions were nil. The same cannot be said for 2023 so far. Only halfway through the year and the industry is already abuzz with the news that BP closed a $1.3-billion agreement to acquire TravelCenters of America Inc. Additionally, Salt Lake City-based Maverik — Adventure’s First Stop is acquiring Kum & Go LC, a chain of more than 400 c-stores across 13 states; and Franklin, Tenn.-based MAPCO Express Inc., a subsidiary of leading South America-based retail company COPEC, is selling its business to two separate buyers: Couche-Tard and Lawrenceville, Ga.-based Majors Management Inc.
Several Top 100 chains, including Sheetz and Wawa, also have revealed plans in recent months to expand outside of what’s considered their traditional markets.
The Convenience Store News Top 100 is the industry’s longest-running accounting of the largest convenience store chains by store count.