Convenience Store News - July 2017 - 28

CSNEWS

TOP 100

The View
From the Top
Continuing consolidation puts more stores in the hands
of the biggest c-store chains

T

By Melissa Kress
he latest numbers put the U.S. convenience channel store count at nearly
155,000. The majority of the stores are
owned by single-store operators, but the
chain retailers on the 2017 Convenience
Store News Top 100 ranking hold a sizable amount as well: 63,368 stores to be exact - a
number that has grown incrementally over the past
five years.
Things get interesting when you fine-tune the microscope and realize that the top 10 chains, led by 7-Eleven
Inc., account for a whopping 40,725 of those stores.
The top 10, which also includes Alimentation CoucheTard Inc., Shell Oil Co., Marathon Petroleum Corp. and
Chevron Corp., controls 64.3 percent of the Top 100
store count and 26.3 percent of the total U.S. c-store
industry store count. Just five years ago, the top 10
chains accounted for 35,292 stores, equating to 58.9
percent of the Top 100 and 23.7 percent of the industry.
These staggering numbers are proof-positive of the

THE TOP 10 CHAINS: Consolidation in Action
2017
2016
2015
2014
2013

TOP 10 TOTAL U.S. STORE COUNT

% OF INDUSTRY

% OF TOP 100

40,725
38,541
42,396
36,827
35,292

26.3%
24.9%
27.7%
24.3%
23.7%

64.3%
63.1%
63.7%
60.7%
58.9%

Source: Convenience Store News Market Research, 2017

28 Convenience Store News | JULY 2017 | WWW.CSNEWS.COM

consolidation movement that has gripped the c-store
industry in recent years and seen the biggest chains
get even bigger. In fact, the top 10 chains account for
more of the Top 100 this year than they have in the
past five years.
But these numbers also raise a question: Is the convenience channel getting too top heavy?
Industry merger and acquisition (M&A) experts say
no - at least, for now.
"The convenience store industry could become
more top heavy. But too top heavy now? No, I don't
think so," said Ken Shriber, managing director of
Petroleum Equity Group in New York.
The size of the overall convenience channel currently helps balance out the industry.
"I think what keeps the top chains honest is that
there are about 155,000 convenience stores, so they
cannot really control the market," said John Flippen,
managing director of Petroleum Capital & Real Estate
LLC. "Where the issue will come is when they start to
control the market."
Major oil companies used to control certain sections of the market. Their exit has opened up avenues
for growth among all the top chains. "They are basically trying to replace the major oil companies,"
Flippen explained.
And the consolidation trend is expected to continue.
Though, according to Shriber, the acquisition sizes
might be smaller going forward. "You generally don't


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Table of Contents for the Digital Edition of Convenience Store News - July 2017

Contents
Convenience Store News - July 2017 - Intro
Convenience Store News - July 2017 - Cover1
Convenience Store News - July 2017 - Cover2
Convenience Store News - July 2017 - 3
Convenience Store News - July 2017 - 4
Convenience Store News - July 2017 - 5
Convenience Store News - July 2017 - Contents
Convenience Store News - July 2017 - 7
Convenience Store News - July 2017 - 8
Convenience Store News - July 2017 - 9
Convenience Store News - July 2017 - 10
Convenience Store News - July 2017 - 11
Convenience Store News - July 2017 - 12
Convenience Store News - July 2017 - 13
Convenience Store News - July 2017 - 14
Convenience Store News - July 2017 - 15
Convenience Store News - July 2017 - 16
Convenience Store News - July 2017 - 17
Convenience Store News - July 2017 - 18
Convenience Store News - July 2017 - N1
Convenience Store News - July 2017 - N2
Convenience Store News - July 2017 - 19
Convenience Store News - July 2017 - 20
Convenience Store News - July 2017 - 21
Convenience Store News - July 2017 - 22
Convenience Store News - July 2017 - 23
Convenience Store News - July 2017 - 24
Convenience Store News - July 2017 - 25
Convenience Store News - July 2017 - 26
Convenience Store News - July 2017 - 27
Convenience Store News - July 2017 - 28
Convenience Store News - July 2017 - 29
Convenience Store News - July 2017 - 30
Convenience Store News - July 2017 - 31
Convenience Store News - July 2017 - 32
Convenience Store News - July 2017 - 33
Convenience Store News - July 2017 - 34
Convenience Store News - July 2017 - 35
Convenience Store News - July 2017 - 36
Convenience Store News - July 2017 - 37
Convenience Store News - July 2017 - 38
Convenience Store News - July 2017 - 39
Convenience Store News - July 2017 - 40
Convenience Store News - July 2017 - 41
Convenience Store News - July 2017 - 42
Convenience Store News - July 2017 - 43
Convenience Store News - July 2017 - 44
Convenience Store News - July 2017 - 45
Convenience Store News - July 2017 - 46
Convenience Store News - July 2017 - 47
Convenience Store News - July 2017 - 48
Convenience Store News - July 2017 - 49
Convenience Store News - July 2017 - 50
Convenience Store News - July 2017 - 51
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Convenience Store News - July 2017 - 53
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Convenience Store News - July 2017 - 56
Convenience Store News - July 2017 - 57
Convenience Store News - July 2017 - 58
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Convenience Store News - July 2017 - 63
Convenience Store News - July 2017 - 64
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Convenience Store News - July 2017 - Cover3
Convenience Store News - July 2017 - Cover4
Convenience Store News - July 2017 - U1
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