RaceTrac Petroleum hopes it's a popular pit stop for gasoline
and snacks in the Southeast. The company operates more than
630 gas stations and convenience stores in five southeastern states
under the RaceTrac and RaceWay names. (RaceWay stores are operated
by independent contractors.) The chain plans to grow by expanding
its store count by about 10% a year. Carl Bolch founded
RaceTrac in Missouri in 1934. His son, chairman Carl Bolch Jr.,
moved the company into high-volume gas stations with long,
self-service islands that can serve as many as two dozen vehicles
at one time. RaceTrac's convenience stores sell fresh deli food and
offer some fast-food fare. The Bolch family owns and runs the
Atlanta-based RaceTrac Petroleum operates stores in Florida,
Georgia, Louisiana, and Texas.
One of the largest private companies in the US, Racetrac
Petroleum's stores rang up more than $9 billion in sales in
RaceTrac prefers to build its own stores from the ground up
rather than grow through acquisitions. Indeed, in the past 15 years
the company has only bought one store. Recently,
RaceTrac has been increasing the number of
independently-operated RaceWay stores in its portfolio. (While the
RaceWay stores are operated by independent contractors, RaceTrac
stills owns and controls the gasoline business and real estate.) It
has also consolidated its company-operated stores into four key
markets: Atlanta, Dallas, Florida, and Louisiana.
RaceTrac Petroleum got a new leader, Allison Moran, in 2013.
Moran, who led the RaceTrac company-operated stores division before
her promotion to CEO, succeeded Carl Bloch Jr. (who retained the
chairman's title). Moran is Bloch's eldest daughter.
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