Convenience Store M&A Activity Suggests More Consolidation is Coming

The pace of merger and acquisition activity in the U.S. convenience store sector is accelerating with recent trends suggesting the nation’s c-store landscape is ripe for more change. While most of the transactions in 2024 involved smaller chains or single-store operators, several larger operators inked deals to significantly expand their footprints into new regions.

According to a new research brief from CoBank’s Knowledge Exchange, c-store consolidation stands to disproportionally affect rural communities, many of which lack a grocery store or access...

Blue Yonder Acquires One Network Enterprises to Unlock an Agile, Interconnected Supply Chain 

Blue Yonder, the leader in digital supply chain transformations, today announced the closing of its acquisition of One Network Enterprises (One Network) at an enterprise value of approximately $839 million. The acquisition gives Blue Yonder customers the ability to collaborate and share data – from inventory levels to raw and finished goods materials movement – in real time across all trading partners up and down the supply chain.

With increasing volatility and continuous disruptions, retailers, manufacturers and logistics service providers (LSPs) need to achieve multi-enterprise... 

Knight-Swift Acquires DHE as Next Piece of National LTL Map

Knight-Swift Transportation announced Tuesday that it has acquired less-than-truckload carrierDependable Highway Express (DHE) for an undisclosed sum.

A wholly owned division of Los Angeles-based Dependable Supply Chain Services, DHE is a regional LTL operation with 14 service centers providing direct overnight service in California, Nevada and Arizona, according to its website. It provides LTL coverage in 40 states through partner agreements. DHE is now a non-union carrier after the Teamsters union didn’t fight a decertification...

Smithfield Foods Completes Purchase of Dry Sausage Facility from Cargill

Smithfield Foods has completed its purchase of a premier dry sausage production facility in Nashville, Tennessee, from Cargill. Terms of the agreement were not disclosed.

The transaction fuels Smithfield’s strategy of continued growth in the value-added packaged meats segment, adding dry sausage production capacity of 50 million pounds per year. Production from the Nashville facility will support Smithfield’s existing portfolio of dry sausage brands including Margherita, Carando and Armour.

“With the added capacity from this facility, Smithfield is poised to continue to expand our packaged meats business in the... 

Casey's Announces Agreement to Acquire 198 CEFCO Convenience Stores

Casey’s General Stores, Inc. , one of the leading convenience store chains in the United States, today announced an agreement to acquire Fikes Wholesale, Inc., owner of CEFCO Convenience Stores (“CEFCO”), in an all-cash transaction for $1.145 billion. The purchase price includes tax benefits valued at approximately $165 million for a net after-tax purchase price of $980 million.

Fikes Wholesale, Inc. and CEFCO Convenience Stores began as a single “filling station” in Cameron, Texas in 1952 and has grown to be a respected operator...

Darden Restaurants to Acquire Chuy's Holdings, Inc. in Approximately $605 Million Transaction

Darden Restaurants, Inc. and Chuy's Holdings, Inc., jointly announced today that they have entered into a definitive agreement pursuant to which Darden will acquire all of the outstanding shares of Chuy's for $37.50 per share, in an all-cash transaction with an enterprise value of approximately $605 million. Chuy's will complement Darden's portfolio of iconic brands, which currently includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V's and Bahama Breeze...

Home Market Foods Expands Production into Newly Acquired Plant in South Windsor, CT

Home Market Foods (HMF), a leading US food manufacturer, today announced the purchase of the former Carla's Pasta production plant in South Windsor, Connecticut. HMF will invest over $70 million to build out the site, transforming it into a state-of-the-art meat production facility. By year-end 2027, HMF estimates that the company will create 210 jobs to operate the South Windsor facility. This expansion comes as part of the company's strategic plan to expand its production capabilities, innovate...

Cal-Maine Foods, Inc. Announces Acquisition of Egg Production Assets of ISE America, Inc.

Cal-Maine Foods, Inc. today announced the Company has completed the acquisition of substantially all the assets of ISE America, Inc. and certain affiliates (“ISE”) for approximately $110 million. Cal-Maine Foods is funding the acquisition with available cash on hand. The acquired ISE assets include commercial shell egg production and processing facilities with current capacity of approximately 4.7 million laying hens, including 1.0 million cage-free, and 1.2 million pullets, feed mills, approximately 4,000 acres of land, inventories and an egg products breaking facility...