Dive Brief:

• A group of private equity investors has sold Mid-Atlantic Convenience Stores (MACS) to Sunoco for an undisclosed sum.
• The sale comes just months after the stores were rebranded to Circle K outlets.
• Sunoco picks up 71 company-owned stores and 230 dealer-operated sites in the transaction.

Dive Insight:

There's something a little sad about Circle K these days. It's as if the chain just can't catch a break. Once second only to 7-Eleven in the business, Circle K dropped to fourth place after filing for bankruptcy in 1990.

MACS' decision to rebrand its stores was a big boost for to Circle K. MACS had also signed an exclusive development deal with Circle K. All that is gone now. Sunoco says it has not decided if it will keep the Circle K brand or development agreement.