Convenience Retailers High on Forbes' Top Privately Held Firms
November 23, 2009 -
WASHINGTON -- Thirteen convenience retail companies made Forbes' annual list of the biggest privately held firms in the nation.
Forbes' 25th annual survey of America's largest private companies reflects the same turbulence that is rocking the publicly traded firms that make all the headlines. Seven companies on this year's list are operating in Chapter 11 bankruptcy, including aluminum maker Aleris (taken private by Texas Pacific Group), Reader's Digest (by Ripplewood Holdings) and in the convenience and petroleum retailing industry, Flying J.
Utah-based Flying J, which ran into liquidity problems last year, ranked No. 13 overall on the Forbes' list with $18 billion in annual sales. The oil and gas refiner and travel center operator is currently being acquired by No. 14 ranked Pilot Travel Centers, which had $17.28 billion in sales last year, according to Forbes.
The third-largest privately held company in the convenience store industry last year was Love's Travel Stops and Country Stores, which made the list for the 10th consecutive year with $16.5 billion in sales.
The largest retailer of any kind on the list was Publix Supermarkets, which ranked ninth with $24.11 billion in annual sales.
The following convenience store industry companies also made the list:
This year is special for Convenience Store News, as it marks the 40th year of publication, making it the longest continuously published news source for the convenience store industry.
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