Pops Mart sells c-store business in multi-buyer deal

COLUMBIA, S.C. — Pops Mart Fuel has sold its entire convenience-store and wholesale business, fully exiting the c-store industry through a multi-buyer transaction led by Sunoco LP.

The deal, which wrapped up in December, was managed by American Business Brokers & Advisors. Financial details were not shared.

As part of the deal, Sunoco acquired 36 of Pops Mart’s 54 convenience stores, along with its wholesale distribution business, boosting Sunoco’s U.S. store count to around 310 locations. Meanwhile, Petroleum Marketing Group purchased seven of Pops Mart’s convenience stores, while the buyers for the remaining 11 locations were not immediately disclosed.

Pops Mart Fuel, which operated stores across North Carolina, South Carolina, and Wisconsin, was established in 2021 after the former parent company Winnsboro Petroleum sold its locations to retail fuel investors Don Draughon and JD Dykstra. The retailer pursued an acquisition-driven growth strategy, expanding its footprint through a series of smaller deals and entering Wisconsin in 2023 by acquiring Scully Oil and DJ’s Mart.

According to Pops Mart Fuel CEO Don Draughon, the company had been considering additional dealer-site acquisitions to keep expanding when it was approached by Sunoco. The strategic and operational synergies between the two firms ultimately led to the decision to sell the entire business, according to American Business Brokers & Advisors President Terry Monroe.

For Sunoco, the acquisition aligns with a broader growth strategy centered on consolidation and network expansion. In its 2026 guidance, the Dallas-based fuel distributor said it has a “multi-year path of bolt-on acquisitions totaling at least $500 million annually.” The company declined to comment on specific plans for the newly acquired Pops Mart locations.

Pops Mart’s exit reflects a broader trend of consolidation in the convenience-store industry, as smaller regional operators keep selling assets amid a tough operating environment characterized by stagnant in-store transaction growth and rising competitive pressure.