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RaceTrac

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(Redirected from RaceWay)
For the Canadian brand, see Parkland Fuel.
RaceTrac, Inc.
Formerly
  • Carl Bolch Trackside Stations
    (1934–1979)
Company typePrivate
IndustryRetail (convenience stores)
Founded1934; 90 years ago (1934)
FounderCarl Bolch Sr.
HeadquartersAtlanta, Georgia, U.S.
Number of locations
667
Key people
Carl Bolch
Natalie Bolch Morhous
Max McBrayer
Number of employees
10,082
Websitewww.racetrac.com

RaceTrac, Inc. is an American corporation that operates a chain of gasoline service stations across the Southern United States. In 2023, Forbes ranked RaceTrac as the 18th largest private company in the United States with a yearly revenue of $19.72 billion.[1]

History

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Carl Bolch Sr. founded the company in 1934 in St. Louis, Missouri, with his first stores operating under the name Carl Bolch Trackside Stations. In 1959, Bolch relocated and acquired the Oil Well Company of Opp, Alabama, which consisted of numerous independent outlets across rural Alabama.

His son, Carl Bolch Jr., who succeeded his father as chief executive, joined the company in Montgomery, Alabama in 1967. After pioneering the concept of self-service gasoline in Alabama, Florida, and Georgia,[2] the company relocated its headquarters to Atlanta, Georgia in 1976. In 1979, all company-operated stores adopted the "RaceTrac" brand, and all contractor-operated stores took on the "RaceWay" brand.

In the 1990s, RaceTrac operated as a cash-only business, and it now accepts credit cards, debit cards and fleet cards.

A RaceTrac in Jasper, Georgia

In 1996, RaceTrac founded Metroplex Energy, a wholly-owned subsidiary of RaceTrac, Inc. and a wholesale fuel supplying company that secures bulk fuel to supply RaceTrac and RaceWay stores and other third-party companies.

The RaceTrac corporate office in Cumberland, Georgia, as seen from Truist Park

On December 31, 2012, Carl Bolch Jr. transitioned the CEO title to his daughter, Allison Bolch Moran. During that time, Bolch Jr. maintained his executive chairman position.[3] In February 2019, Max McBrayer became CEO of RaceTrac and Natalie Bolch Morhous became President of RaceTrac. On January 2, 2024, Natalie Morhous became CEO of RaceTrac, replacing Max McBrayer. Carl Bolch Jr. remains executive chairman of the RaceTrac board.

On April 5, 2021, employee tax and financial records,[4] and email addresses and first names of some of the RaceTrac Rewards Loyalty users were illegally accessed and posted to the victim shaming site for the Clop ransomware gang.[5]

On July 5, 2023, RaceTrac announced that its subsidiary, Metroplex Energy, agreed to acquire Gulf Oil LP for an undisclosed amount. On December 14, 2023, the acquisition was completed. The acquisition marks the largest in the company's history, expanding its scale and operating network. As part of the transaction, RaceTrac acquired Gulf's iconic brand in the United States and Puerto Rico, all Gulf-branded distributor and license agreements comprising approximately 1,100 branded sites, as well as exclusive rights to market fuel at eleven Massachusetts Turnpike service plaza locations.[6]

Locations

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RaceTrac & Raceway footprint as of 2020 January (RaceTrac in red, Raceway in blue)
A RaceTrac in Roswell, Georgia

RaceTrac, Inc. operates more than 580 retail gasoline convenience stores and travel centers in 13 states under the RaceTrac (company-operated) and RaceWay (contract operator-operated) names. Most RaceTrac locations feature 20 to 24 fueling positions and a 5000+ square foot convenience store offering more than 4,000 items. In January 2012, RaceTrac introduced its new 6,000 square foot store design, which features Swirl World frozen yogurt, free Wi-Fi internet and indoor and outdoor seating.[7]

RaceTrac locations operate in Alabama, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, and Texas. There are more than 200 RaceWay-branded locations in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia.[8]

In 2023, RaceTrac announced plans for an expansion into Indiana and Ohio, marking the chain's first move into the Midwestern United States.[9][10]

Awards and Acknowledgments

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A Swirl World frozen yogurt bar inside a RaceTrac

The company has been ranked on Forbes magazine's list of largest private companies every year since 1998.[11]

In October 2009, Convenience Store News named Carl Bolch Jr., then executive chairman and CEO, the 2009 Retailer of the Year for "pioneering forecourt retailing in the Southeast and making an indelible mark on the convenience industry overall".[12]

In 2017, Convenience Store News named RaceTrac as the Cold & Frozen Beverages Innovator of the Year.[13]

In 2023, USA Today 10Best Awards: Convenience Stores - awarded RaceTrac with 3rd Best Gas Station Brand in the U.S.[14]

In 2023, RaceTrac was listed in the In Good Company Report – a list of companies that demonstrate a commitment to business generosity.[15]

In 2023, CSP named Natalie Morhous, President of RaceTrac, Inc. as Retail Leader of the Year. .[16]

Programs and Partnerships

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RaceTrac has been actively involved with The Michael J. Fox Foundation (MJFF) and hosted several fundraising events since 2011 that has helped to collectively raise over $6 million to cure Parkinson's disease. [1]

References

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Wikimedia Commons has media related to RaceTrac.
  1. ^ MURPHY", "ANDREA. "America's Largest Private Companies 2022". Forbes. Retrieved 2023-06-12.
  2. ^ "Meet Carl Bolch Jr. and Susan Bass Bolch". Bolch Judicial Institute. Bolch Judicial Institute at Duke Law School. 16 April 2018. Retrieved 15 July 2021.
  3. ^ Couret, Jacques (23 October 2012). "RaceTrac names Allison Moran CEO". Atlanta Business Chronicle. Retrieved 25 July 2014.
  4. ^ Krebs, Brian (5 April 2021). "Ransom Gangs Emailing Victim Customers for Leverage". Krebs On Security. Retrieved 6 April 2021.
  5. ^ "ACCELLION INCIDENT". RaceTrac Petroleum, Inc. 5 April 2021. Retrieved 6 April 2021.
  6. ^ "RaceTrac Completes Gulf Oil Acquisition". 14 December 2023.
  7. ^ "RaceTrac: Who We Are". RaceTrac. Archived from the original on 7 June 2012. Retrieved 1 May 2012.
  8. ^ "RaceWay: About Us". RaceTrac Petroleum. Archived from the original on February 12, 2012. Retrieved 1 May 2012.
  9. ^ "RaceTrac Moves Closer to Entering Ohio Market". Convenience Store News. Retrieved 2024-09-23.
  10. ^ Lode, Jessica. "RaceTrac opening in 2 new states next month". C-Store Dive. Retrieved 2024-09-23.
  11. ^ MURPHY", "ANDREA. "America's Largest Private Companies 2022". Forbes. Retrieved 2023-02-17.
  12. ^ "Mr. RaceTrac". CSP Daily News. 28 October 2009. Retrieved 25 July 2014.
  13. ^ "Meet Cold & Frozen Dispensed Beverages Innovator of the Year: RaceTrac Petroleum". Convenience Store News. 23 April 2018. Retrieved 2023-02-17.
  14. ^ "Best Gas Station Brand Winners (2022) | USA TODAY 10Best". 10Best. July 2022. Retrieved 2023-02-17.
  15. ^ "Georgia's Businesses are Committed to Operating Generously". goBeyondProfit. Retrieved 2023-02-17.
  16. ^ "CSP's Retail Leader of the Year 2023: Natalie Morhous". finance.yahoo.com. Retrieved 2023-02-17.
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