Popular convenience store chain dissapearing after sale

Industry Overview - The convenience store industry is experiencing a trend where retailers are either pursuing growth through acquisitions or opting to sell their businesses for a clean exit, a trend expected to continue into 2026 [1] - The consolidation trend is evident as Maverik rebranded Kum & Go locations after acquiring the chain in 2023, and Pops Mart sold its 54-store chain to three separate buyers in 2026 [2] Company Actions - Pops Mart has sold its 54 convenience stores to three buyers, with Sunoco LP acquiring 36 stores and Petroleum Marketing Group acquiring seven stores, while details on the remaining 11 stores are not disclosed [3][5] - The sale was completed with advisory services from American Business Brokers & Advisors, although financial details were not disclosed [4] - Pops Mart was in the process of expanding when approached by Sunoco, leading to the decision to sell due to strategic and operational synergies [6] Market Conditions - The exit of Pops Mart highlights a broader trend of consolidation in the convenience store sector, driven by stagnant in-store transaction growth and increasing competitive pressure [7]