Convenience Store and Retail Fuel Sector Update June 2026

This document is an annual industry report detailing the current state of the Convenience Store and Retail Fuel sector as of June 2026. It outlines significant trends in merger and acquisition (M&A) activity, highlighting a notable increase in transactions driven by smaller distributor divestitures amid rising oil prices and global uncertainties. The report indicates that M&A volume has risen to 14 transactions in the year to date, compared to seven in the previous year. Geopolitical tensions, particularly between the U.S. and Iran, have contributed to oil price volatility, impacting retail fuel margins. Larger operators are benefiting from these conditions, while smaller retailers face tighter margins. The report emphasizes the importance of diversifying revenue streams, particularly through in-store sales, to enhance profitability. Additionally, it discusses the strategic focus of buyers on acquiring businesses with strong infrastructure and foodservice offerings, suggesting a favorable environment for consolidation in the sector.