As the 2022 Convenience Store News Top 100 ranking shows, there’s been a breather this year so far in terms of big, blockbuster acquisitions in the c-store industry. Merger and acquisition activity has not ceased, but is centered on smaller deals these days.
Thus, this year’s ranking shows little change at the top. In the No. 1 spot again this year is Irving, Texas-based 7-Eleven Inc. with a total U.S. store count of 12,702, followed by Laval, Quebec-based Alimentation Couche-Tard Inc. at No. 2 with a total U.S. store count of 5,714. In fact, both retailers have held these spots since 2015, with 7-Eleven’s crown dating back even further.
Ankeny, Iowa-based Casey’s General Stores Inc. ranks No. 3 with a total U.S. store count of 2,448. Casey’s network was boosted by three transactions in its 2022 fiscal year: the acquisition of Omaha, Neb.-based Buchanan Energy and its Bucky’s Convenience Stores; a $39-million agreement with Couche-Tard for nearly 50 locations in the Oklahoma City market; and a $220-million pact with Knoxville, Tenn.-based Pilot Co. for 40 locations that strengthened its position in Tennessee and Kentucky.
Rounding out this year’s top 10 are Westborough, Mass.-based EG America, Richmond, Va.-based GPM Investments LLC, El Dorado, Ark.-based Murphy USA Inc., Media, Pa.-based Wawa Inc., Tulsa, Okla.-based QuikTrip Corp., La Crosse, Wis.-based Kwik Trip Inc., and Pilot Co.
All told, the top 10 account for a combined 28,339 stores of the total industry’s 148,026 stores, or 19.1 percent. Broken down even further, the top three alone account for a combined 20,864 stores, or 14 percent.
The Convenience Store News Top 100 is the industry’s longest-running accounting of the largest convenience store chains by store count.
Click below to download the complete 2022 ranking.