RaceTrac Petroleum hopes it's a popular pit stop for gasoline and snacks in the South. The company operates more than 600 gas stations and convenience stores in 10 southern US 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 company.
Atlanta-based RaceTrac Petroleum operates stores in Alabama, Florida, Georgia, Louisiana, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, and Texas.
One of the largest private companies in the US, Racetrac Petroleum's stores rang up more than $9 billion in sales in 2012.
RaceTrac prefers to build its own stores from the ground up rather than grow through acquisitions. Indeed, in the past 16 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. In 2014 the chain is building new stores in key markets, such as Florida, and adding services. In 2013 it partnered with
Fifth Third Bancorp
to install ATMs at 225 RaceTrac convenience stores in Georgia and Florida.
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.
In 2015, RaceTrac sold five retail operations in Florida to Town Star Holdings, an affiliate of Junonia Capital LLC. Four of the convenience stores are in the Orlando area with the other in Jacksonville.