Dive Brief:
- The Kent Companies has acquired regional competitor B&B Petroleum for an undisclosed amount, according to a Friday announcement.
- Kent is acquiring B&B’s 15 convenience stores scattered across southeast Louisiana, as well as its Subway and Red Bird Café restaurants. Three of the stores operate under B&B’s Louisiana Sportsman’s Paradise banner, according to the retailer’s website.
- The deal marks Texas-based Kent’s entrance into Louisiana and grows its company-operated c-store network — under the Kent Kwik banner — to 130 locations across nine states.
Dive Insight:
Kent has quietly become one of the fastest-growing convenience retailers in the U.S. in recent years. The company had about 75 c-stores in its network as of spring 2023 and has nearly doubled its count in a little over two years — a pace rarely seen among small and mid-size convenience operators.
The company will now enter Louisiana, where it plans to rebrand B&B’s c-stores to the Kent Kwik banner, according to the announcement. This comes during a busy time for Kent, which is also piloting a food-focused store format that features made-to-order foodservice, beer and ice caves, and drive-thrus.
“We are thrilled to officially enter the Louisiana market and continue growing the Kent Kwik footprint across the Southeast,” said Bill Kent, owner and CEO of The Kent Companies, in Friday’s announcement.
For Ponchatoula, Louisiana-based B&B, the deal marks the end of its nearly four decades in business. CEO and co-founder Jay Barzenick opened his first store back in 1988 and grew the company to employ more than 150 team members, according to B&B’s website.
The announcement did not disclose why Barzenick decided to sell the business. However, smaller convenience retailers are struggling to stay afloat across the industry amid today’s difficult operating economy, leading many of them to divest some or all of their operations.
“We believe this acquisition with Kent Companies aligns with our values and marks a meaningful step forward that will allow the business to continue evolving and serving its customers,” Barzenick and B&B co-owner Art Bonneval said in a joint statement. “As we close this chapter, we leave with immense gratitude for everyone who has been part of this journey and pride in all that we’ve achieved together.”
