Press Releases

Retailer picks up remaining locations in West Texas, New Mexico and Oklahoma from Sunoco for $1 billion. 7-Eleven Inc. has entered into an agreement to acquire 204 stores from Sunoco LP, which includes Stripes convenience stores and Laredo Taco Company restaurants, for approximately $1 billion. Located across West Texas, New Mexico and Oklahoma, these stores will join the more than 13,000 7-Eleven, Speedway and Stripes locations that 7-Eleven operates, franchises or licenses across the United States and Canada. Sunoco LP acquired Susser Holdings and its Stripes c-stores in 2015. In January 2018, 7-Eleven completed the acquisition of more than 1,000 Sunoco c-stores. As part of the current sale, Sunoco will also amend its existing take-or-pay fuel supply agreement with 7-Eleven to incorporate additional fuel gross profit. Proceeds from the sale will allow Sunoco to materially reduce leverage to execute on future growth opportunities while maintaining a strong balance sheet and multi-year distribution growth, Sunoco…

With urban environments accounting for nearly 40% of the world’s gross annual carbon emissions, it’s evident that the construction industry can play a key role in decarbonisation. But what strategies can be employed to meet those goals? The construction industry is a crucial player in the worldwide push to meet the target of net-zero emissions by 2050 as set out in the Paris Agreement. With urban environments accounting for 39% of the world’s gross annual carbon emissions, construction companies are on a journey to decarbonise their operations and the buildings they construct. To help make this happen, there has been a significant increase in investing in solutions that boost energy efficiency thereby reducing carbon emissions. In 2021 these investments increased by 16% to $237 billion, underscoring the importance of sustainability in the industry. As more and more construction happens, the industry will need to make sure they’re keeping up with…

Theo Foukkare, CEO, Australian Association of Convenience Stores (AACS), gives his opinion on the new vaping laws and whether they will stifle or fuel the black market. Vaping in Australia has been a topic of discussion for several years now. For the last two years, the Australian Federal Government has adopted a world first prescription only approach to accessing nicotine vaping products. The intent of this approach was sound; however, the real-world experience is very different. Unfortunately, this approach has been rejected by doctors, pharmacists, and adult consumers. The direct result of this has seen the development of a black market that is selling dangerous unregulated products to more than 1.6 million adults and unfortunately providing open access to children. The black market supply is estimated to now be worth more than $3 billion per annum in retail sales, almost exclusively being supplied by a very sophisticated black market model.…

The Australian Association of Convenience Stores (AACS) has welcomed a move the by Federal Treasurer Jim Chalmers to boost funding aimed at targeting Australia’s multi-billion dollar illicit tobacco black market – however it warns there is still a long way to go when it comes to tackling the out-of-control problem gripping Australia. AACS Theo Foukkare said the $188.5 million program – announced today – is a crucial step toward fighting what he describes as “one of the biggest public health, community safety and economic threats to this nation” in recent decades. “After years of advocacy by AACS, we are finally seeing the Federal Government invest a solid amount of money to help protect all Australians from the sinister illicit tobacco black market, including our retailers – who have been desperately calling for proper action,” Mr Foukkare said. According to media reports, the Federal Government will target black market tobacco dealers…

The Australian Association of Convenience Stores (AACS) has welcomed the passageof the Albanese Government’s Public Health (Tobacco and Other Products) Bill 2023,but said it was a wasted opportunity to deliver a practical solution to the vaping crisisin Australian schools. AACS chief executive Theo Foukkare said the creation of an Illicit TobaccoCommissioner was a major step forward and would support the thousands ofresponsible retailers that had been unfairly losing out to black market operators thathad muscled in on the legal tobacco market after the government priced consumersout of the legal market. “The late amendments to this Bill proposed by the Coalition are most welcome,” Mr Foukkare said. “We look forward to the establishment of the Commissioner’s office and supporting this new resource to ensure it maximises its chance of success. “While it is extremely positive that there will be more enforcement of the current rules, our law abiding retailers have seen…

The National Food Supply Chain Alliance, made up of nine influential national food industryassociations representing 160,000 food businesses, has welcomed yesterdays ‘Australian Food Story– Feeding the Nation and Beyond’ report by the House of Representatives Standing Committee onAgriculture. It welcomes the emphasis on ‘supply chain resilience’ adding that it believes a riskmitigation strategy is critical to creating resilience and ultimately protecting the national economyand future prosperity. It welcomes the recommendation that the Australian Government coordinate with industry in thedevelopment of a National Food Supply Chain Map but says the map must include: a framework foridentifying supply chain risks (global and domestic), assessing their potential impact and thendeveloping a plan to reduce the impact of the threat. The Alliance says it’s a question of getting ahead of the risk and anticipating security needs and addressing them before they become problems. The Alliance, which represents every component of the nation’s food supply…