The Pantry

From Wikipedia, the free encyclopedia
Jump to: navigation, search
The Pantry Inc.
Type Publicly traded company
Traded as NASDAQPTRY
Industry Convenience store chain
Founded 1967
Headquarters Cary, North Carolina, United States
Number of locations 1,537
Area served Southeast United States
Key people Dennis Hatchell (CEO)[1]
Website www.thepantry.com

The Pantry, Inc. (NASDAQPTRY) is a publicly traded convenience store chain based in Cary, North Carolina that operates Kangaroo Express stores.[2] The Pantry was founded in 1967 by Sam Wornom and Truby Proctor, Jr.[3] The company has been publicly traded since June 1999 and owned by investors since 1987, when then investor Montrose Capital purchased controlling shares from Wornom and Proctor. Recent CEOs have included the interim CEO Edwin J. Holman, currently the Chairman, who took over after Terrance M. Marks, the former President and CEO, resigned in December 2011.[4] (Marks had replaced the longtime former CEO Peter Sodini who had held office since 1996 until retiring in September 2009.) Dennis Hatchell is the current CEO of the company as of 2013.[1]

As of January 23, 2014, it is the largest convenience store chain in the southeastern United States, with a presence in the Midwest and 1,537 stores in thirteen states, including Alabama, Florida, Georgia, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Virginia. [2][5]

Overview[edit]

It is the largest independently-operated convenience store chain in the southeastern United States. The Pantry expanded rapidly during the late 1980s into the 2000s through various acquisitions. In 2008, it was announced that all Pantry stores would be rebranded under its primary operating banner, Kangaroo Express. In 2009, the company moved its headquarters from Sanford, North Carolina to Cary, North Carolina.[6]

Products and services[edit]

The Pantry offers its own private label "Kangaroo" brand of gasoline,[2] and operates 250 in-store quick-service restaurants.[5]

The Kangaroo Express chain offers its own brand of coffee called "Bean Street Coffee Company"[7] and its own private label for select merchandise. The company has its own label of beverage lines for water and soft drinks, known as "Celeste".[2] Company promotions include "Freeze the Swamp" in Florida, "The Battle for Bean Street" in North Carolina's Triangle Area stores, and "Roo for the Road" value combinations across the chain.

In 2009, then-new CEO Terrance M. Marks announced that all its stores would expand its food service offerings to include fresh fruits, improved sandwiches, and more merchandise options. Select stores offer fast food outlets such as Subway and Taco Bell.

In 2010, its "Fresh Initiative" was announced[5] to improve the Bean Street Coffee Service,[5] revamp nearly all Kangaroo Express stores, and add more appealing meals and snacks.[5] The program is planned to encompass all stores by end of 2012.

Acquisitions[edit]

References[edit]

  1. ^ a b Kress, Melissa. "The Pantry's Fresh Initiative Gets Second Look". Convenience Store News. pp. May 8, 2012. Retrieved May 25, 2012. 
  2. ^ a b c d Morrison, Mitch (July 24, 2003). "The Pantry Profits Climb". Convenience Store News. Retrieved May 25, 2012. 
  3. ^ Staff (2001). "History of The Pantry, Inc.". FundingUniverse.com. Retrieved 7 February 2013. 
  4. ^ Staff (February 15, 2012). "The Pantry Names Dennis G. Hatchell as President and Chief Executive Officer". The Pantry, Inc. Retrieved 7 February 2013. 
  5. ^ a b c d e Liebeck, Laura (November 7, 2011). "From Good to Great". Convenience Store News. Retrieved May 25, 2012. 
  6. ^ Staff (January 9, 2009). "Pantry Buys New HQ". CSPnet.com. Retrieved 7 February 2013. 
  7. ^ "Bean Street Coffee Company". Beanstreetcoffee.com. Retrieved May 25, 2012. 

External links[edit]