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Yahoo
a day ago
- Business
- Yahoo
Global Partners objects to Applegreen's Massachusetts project win
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Last week, Applegreen received approval to rebuild and operate 18 travel plazas along major Massachusetts roads, including the state's main Turnpike, as part of the 35-year lease agreement with the Massachusetts Department of Transportation. The MDT approved Applegreen's pitch to take over the plazas over the course of two meetings on June 11 and 18. In the first of those, Scott Bosworth, chief of transit with the Massachusetts Bay Transportation Authority, said that the MDT chose Applegreen's proposal over those from several other notable convenience retailers, including Love's Travel Stops & Country Stores, 7-Eleven, RaceTrac and Energy North Group, which operates the Haffner's c-store banner on the East Coast. That list also included Waltham, Massachusetts-based Global Partners, which has publicly expressed its frustration with the MDT's decision in the days since it came down. Global Partners emphasized that its proposal was more cost-effective than Applegreen's and is pushing the MDT to keep the state's infrastructure local instead of working with a foreign company. Global Partners said in a June 13 announcement opposing the MDT's decision that its pitch for the travel plazas included over $1.5 billion in guaranteed rent and $650 million in capital improvements. While Applegreen's accepted pitch included $750 million in capital improvements, it is expected to bring in between $623 million and $994 million over the lifetime of the deal, according to the MDT's June 18 meeting. 'In a decision that defies logic and long-term fiscal responsibility, MassDOT recently awarded the 35-year MA Pike rest-stop lease to a bidder offering nearly $900 million LESS in rent than Global Partners' local offer,' Global Partners said in a LinkedIn post on Wednesday that has since been deleted. 'That's $900 million that could have helped offset budget gaps, fix roads and bridges, and spare taxpayers from looming toll hikes and excise increases.' Bosworth said in the June 18 meeting that Applegreen's pitch included three types of plaza designs: coastal, metro and western, all of which will be deployed depending on which part of the state each store is in. While each location will be slightly different, they'll all focus on creating more dwell time for consumers. Meanwhile, Global Partners' pitch included strategic partnerships with local food companies and regional QSRs, as well as an increased focus on 'guest experience, sustainability, and equity,' according to its June 14 announcement. It did not mention anything regarding store designs. 'Our proposal wasn't just financially stronger; it was built on our 90-year history of local investment, partnerships with homegrown businesses, and a vision for infrastructure that reflects the Commonwealth's identity,' Mark Romaine, chief operating officer for Global Partners, said in the June 14 announcement. 'This isn't just about who operates a travel plaza — it's about who we are as a state.' Global Partners is urging residents to contact Massachusetts Governor Maura Healey and state legislators 'to demand transparency, accountability, and a deal that puts Massachusetts first' in an attempt to reverse the MDT's decision. 'This fight for Massachusetts is not over,' the company said in a June 18 statement. 'As MassDOT enters the next phase of the bid process, we hope they will truly consider what they're giving up for the Commonwealth and weigh the risks before signing a lease.' Recommended Reading Applegreen to spend $750M remodeling 18 Massachusetts travel plazas
Business Journals
4 days ago
- Business
- Business Journals
Global Partners CEO urges Healey to reconsider Mass Pike contracts
Global Partners is still fighting for the contract to redo the Mass Pike's service plazas. Its CEO says the state is leaving "almost a billion dollars on the table" by picking an Irish firm over the Waltham company.
Irish Times
20-06-2025
- Business
- Irish Times
Applegreen to invest $750m in Massachusetts motorway service stations under 35-year deal
Applegreen , the Irish fuel forecourt retail group, has been awarded a 35-year contract to operate 18 motorway service areas in Massachusetts. Under the deal it will invest more than $750 million (€654 million) in the network. The group, backed by US private equity giant Blackstone , will spend the money replacing buildings at nine plazas and carrying out major renovations of the others, US news media reported. This would make it the biggest spending project Applegreen has entered into in the US. The company will have the contract to operate the restaurants, cafes and shops at the plazas and to sell fuel and operate electric-vehicle (EV) charging sites at each location. READ MORE It will pay up to $994 million in rent to the State of Massachusetts during the 35-year deal, reports said. Of the 18 service stations, 11 are on the longest motorway in the state, known as the Massachusetts Turnpike, which spans 222km and was opened in 1957. Applegreen beat two other final-round bidders for the contract. Fuel supplier Global Partners had been seen as the favourite to be selected by the Massachusetts Department of Transport (MassDOT). 'We're thrilled to have the opportunity to work with the Commonwealth of Massachusetts and MassDOT to improve the travel experiences of drivers across Massachusetts for years to come,' a spokesman for Applegreen said. Applegreen entered US market in 2014 when it bought two sites in Long Island. In 2020, the group was part of a consortium that signed a 33-year lease to refurbish and operate 27 motorway plazas on New York Thruway, a system of toll roads within the State of New York. It does not have the fuel sale element of that deal. Applegreen runs more than 100 US motorway service areas, where it operates restaurant and cafe brands such as Burger King, Shake Shack, Chick-fil-A, Popeyes, Starbucks, Dunkin', Panera Bread and Panda Express. The company was founded by Robert Etchingham in 1992 with one station in Ballyfermot, west Dublin. It now has almost 200 locations in the Irish market. The company typically invests more than €30 million a year in the Irish market on store openings, upgrades and improvement. Applegreen was taken private from the stock market in March 2021 by Blackstone in a €718 million deal that saw Mr Etchingham and long-standing executive Joe Barrett retain a combined 42.5 per cent stake in the group. The company's then independent directors decided unanimously to recommend the takeover bid for the group, arguing it faced borrowing constraints as a listed company as it faced large investments in electric car-charging facilities and US highway service areas. Applegreen agreed this year to sell its UK filling station business to UK rival EG On The Move for an undisclosed sum. That business had 98 sites. The company said it would use the proceeds from the transaction to invest in its business in Ireland, the UK and US. The deal did not affect Applegreen's Welcome Break motorway service business in the UK, which also has a network of 31 hotels.
CBS News
19-06-2025
- Business
- CBS News
Here's what's proposed for 18 Massachusetts highway service plazas after Irish company wins bid
Big changes are coming to 18 highway service plazas in Massachusetts. The Department of Transportation voted Wednesday to award a 35-year lease to an Irish company that intends to raze and rebuild nine rest stops, while significantly refurbishing nine others. Construction will start in January of 2026. Applegreen chief investment officer Ronan Ryan said Dublin-based company will invest $750 million in the plazas, which will remained owned by MassDOT. "We have a proven track record of undertaking significant service plaza redevelopment projects in the U.S.," Ryan said. Map of service plazas that will be rebuilt or renovated. MassDOT Many of the plazas that will be knocked down and rebuild are on the Mass Pike. They include the Natick, Framingham, Westboro, Charlton, Ludlow and Lee plazas. At the MassDOT board meeting, many spoke out in favor of Boston-based Global Partners, which was also bidding for the contract. Global Partners chief operating officer Mark Romaine said that his company made a rent commitment that was worth $500 million more than Applegreen. "Instead, the committee is recommending a foreign-owned operator with a documented history of underperformance," he said. MassDOT chief development officer Scott Bosworth touted Applegreen's "bold approach" and noted that they just renovated 27 service areas in New York. The plazas will have a different exterior based on their location, with "coastal," "metro" and a "western" design that is meant to invoke the Berkshires. Different exteriors for the renovated rest stops. MassDOT Among the improvements planned for the Massachusetts rest stops include hundreds more parking spots, children's play areas, dog areas and "inviting" bathrooms. "Seventy percent of the people turn into the plaza to use the bathrooms. That's a critical point," Bosworth said. "The data shows that if they have a good experience doing that, the dwell time will be increased as well as the conversion rate, meaning they'll actually stop and buy something." Plans for the refurbished service plazas. MassDOT
Yahoo
03-06-2025
- Business
- Yahoo
New CEOs at Seven & i, Weigel's lead notable exec changes from May
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. While top leadership changes slowed down in May after a very busy April, there were still plenty of notable moves at the highest levels of some top c-store retailers. Additionally, the industry mourned the passing of Richard Slifka, chairman of Global Partners and son of the company's founder, Abraham Slifka. Richard Slifka, 85, held numerous leadership positions during his six decades with Global Partners. Here's a recap of some c-store executive moves from last month. And here's our executive roundup from April, in case you missed it. After announcing the move in early March, Stephen Dacus officially took the top spot at 7-Eleven parent company Seven & i Holdings after its annual shareholder meeting last week. The 64-year-old Dacus, the company's first non-Japanese CEO, served on Seven & i's board beginning in 2022 and was subsequently named lead independent outside director and then chairperson of the board of directors. He takes the reins as Seven & i commences its transformation plan and weighs a takeover bid from Alimentation Couche-Tard. In addition, 7-Eleven Inc., the company's North American branch, named two new vice presidents. Terri Micklin, whose departure from her role as president of GetGo Cafe + Market made headlines last month, is now the company's SVP of store development and facilities. In her new roles, she'll support the company's plan to open over 1,000 new stores in the next five years. Finally, 7-Eleven named Sembe Cole vice president of merchandising for its center store and seasonal product categories. Cole was most recently VP of the company's western franchise operations, a role in which he oversaw over 2,600 franchised 7-Eleven c-stores in the western U.S. He's also worked as VP of 7-Eleven's North Atlantic operations, director of operations, zone merchandise leader, market manager, field merchandising manager and field and business consultant. Weigel's has appointed Douglas Yawberry as CEO. The company has been without a top executive since the passing of Ken McMullen in 2021. After joining the company in 2008, Yawberry was promoted to president of operations three years later and has been Weigel's president and chief operating officer since 2017. While he hasn't been in the CEO role until now, Yawberry has been 'running everything' since the loss of McMullen, a company spokesperson said. Love's Travel Stops & Country Stores named Patrick McLean as its first-ever chief marketing officer. He now leads a team of nearly 300 in the marketing and customer experience departments and reports directly to Love's President Shane Wharton. McLean spent nearly two years at the head of his own marketing consultancy and has served as senior vice president and CMO for drug store chain Walgreens, CMO for TD Bank, vice president of digital brand strategy for Capital One bank, and in various marketing roles with telecom companies Verizon and Bell Canada. Shell named Colette Hirstius as president of its U.S. business, Shell USA. She starts in her new role Aug. 1. Among Hirstius's responsibilities will be spearheading Shell's mobility network in the U.S., where the company serves more than 7 million customers every day, Shell CEO Wael Sawan said. Hirstius joined Shell in 2003 as a production geologist and project manager. She subsequently took on numerous development and exploration positions, leading to her current role of EVP of Gulf of America. EG Group has appointed Erik Chalut as group chief legal officer. His first day is June 9. Chalut, who has 25 years of experience in leading public companies in the consumer industry, joins EG Group from grill maker Weber, where he had worked since the company launched its IPO in 2021. He's also served for seven years as corporate counsel for Kellogg Company, and worked for more than a decade as a partner at various legal practices, according to his LinkedIn bio. He will report directly to new CEO Russell Colaco. Recommended Reading Who is Stephen Dacus, Seven & i's new CEO? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
