Dive Brief:
- Majors Management has acquired four c-stores in North Carolina from McNeill Oil Company, the convenience retailer announced Thursday evening.
- All four sites operate under the Mac’s Food Stores banner and are located in Aberdeen, Pinehurst, and Southern Pines.
- Lawrenceville, Georgia-based Majors has purchased hundreds of c-stores over the past few years. Its latest move aligns with this strategy, as the company looks to expand its presence around the U.S., Majors said on Thursday.
Dive Insight:
According to local publication The Pilot, discussions between Majors and McNeill began last summer, and the deal closed on Thursday. The newspaper reported that Majors will keep the stores operating as normal and will retain all employees.
The deal marks McNeill’s exit from the c-store industry, continuing a recent trend that’s seen small-scale, family owned retailers selling their stores amid economic headwinds.
“This was a difficult decision, as these locations have been part of our company for decades,”
President Frank McNeill said in the announcement. “However, we were fortunate to work with a partner like Majors Management. Their experience, professionalism, and speed allowed us to finalize this transaction smoothly and efficiently.”
The deal will strengthen Majors’ presence in North Carolina, where it already operates an undisclosed number of convenience stores and supplies fuel to others.
“It was a privilege to work closely with the McNeill team to complete this transaction quickly and seamlessly,” Ben Smith, president of Majors, said in the announcement. “Our shared priority has been to ensure there was no disruption to business or customers.”
Majors made five acquisitions in 2022 — including the purchase of 69 Circle K stores across six states — and took the industry by storm with its largest deal in company history two years ago. That move, which closed in November 2023, saw Majors acquire nearly 200 MAPCO Express convenience stores across Tennessee, Alabama, Georgia, Mississippi, Arkansas and Kentucky.
