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NEW YORK -- Ogden, Utah-based Flying J, operators of travel plazas and truck stops, led a contingent of convenience store operators on this year's Forbes magazine list of America's Largest Private Companies.
According to Forbes, Flying J raked in $11.4 billion in revenues in 2006, a 20 percent increase from the prior year to rank 19th in the country among private companies. The other companies with c-store operations that made the list this year are:
-- Cumberland Farms (No. 35): $7 billion;
-- Sinclair Oil (38): $6.8 billion;
-- QuikTrip (40): $6.7 billion;
-- Love's Travel Stops (42): $6.3 billion;
-- RaceTrac Petroleum (61): $4.9 billion;
-- Wawa (64): $4.7 billion;
-- Sheetz (98): $3.3 billion;
-- Houchens Industries (220): $1.9 billion;
-- Holiday Cos. (228): $1.8 billion;
-- Marsh Supermarkets (242): $1.7 billion;
-- Warren Equities (249): $1.7 billion;
-- US Oil (272): $1.6 billion;
-- Kum & Go (306): $1.5 billion;
-- Gate Petroleum (340): $1.3 billion; and,
-- Thorntons (346): $1.3 billion.
The companies on Forbes' list all have at least $1 billion in annual revenues and either too few shareholders to be required to file financial statements with the Securities and Exchange Commission or shares whose ownership is restricted to some group, like family members or employees. The list also excludes foreign companies, businesses that don't pay income taxes, mutually owned companies, companies with fewer than 100 workers and companies that are 50 percent or more owned by other private or foreign companies. Sales figures also exclude revenues of publicly traded subsidiaries.
Sales for Sinclair, RaceTrac, Holiday, and Marsh are Forbes estimates. The figure for Houchens, which operates Jr. Foods convenience stores and the Tobacco Shoppe discount cigarette chain, is pro forma. Sales for Kum & Go and Gate are company provided estimates. Warren operates Xtra Mart convenience stores and US Oil owns Express Convenience Centers. Marsh Supermarkets is included because it owned Village Pantry c-stores (now a separate company) in 2006.