RaceTrac, Inc.
TypePrivate
IndustryRetail (convenience stores)
Founded1934 (1934)
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. The firm is listed among the largest private companies in the United States and ranked 22 with an annual revenue of $16.2 billion in 2022.[1]

History

The company was founded by Carl Bolch Sr. 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 in 1976 to Atlanta, Georgia. In 1979, all company-operated stores adopted the brand, "RaceTrac", and the "RaceWay" brand is born for all contractor-operated stores.

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

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

In October 2012, Carl Bolch Jr. announced he would be passing the CEO title to his daughter, Allison Bolch Moran, while remaining chairman of the board. The change went into effect December 31, 2012.[3] In February 2019, Max McBrayer became CEO of RaceTrac and Natalie Bolch Morhous became President of RaceTrac.

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, has agreed to acquire Gulf Oil LLC from Gulf Oil LP for an undisclosed amount.

Locations

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

RaceTrac, Inc. operates more than 550 retail gasoline convenience stores and travel centers in 12 southeastern states under the RaceTrac (company-operated) and RaceWay (Contract Operator-operated) names. Most RaceTracs feature 20 to 24 fueling positions and a 5000+ sq. ft. convenience store offering over 4,000 items. In January 2012, RaceTrac introduced its new 6,000 square foot store design, the RT6K, which features Swirl World frozen yogurt, free Wi-Fi internet and indoor and outdoor seating.[6]

RaceTrac can be found in Alabama, Florida, Georgia, Kentucky, Louisiana, Tennessee, Texas, and Mississippi. There are over 200 RaceWay-branded locations in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia.[7]

Awards and Acknowledgments

The company has been ranked on Forbes magazine's list of largest private companies every year since 1998. [8]

In October 2009, Carl Bolch Jr, executive chairman and CEO of RaceTrac at the time, was named by Convenience Store News as their 2009 Retailer of the Year for "pioneering forecourt retailing in the Southeast and making an indelible mark on the convenience industry overall".[9] Bolch remains executive chairman of the RaceTrac board.

In 2017, RaceTrac was named Cold & Frozen Beverages Innovator of the Year by Convenience Store News. [10]

In 2022, USA Today 10Best Awards: Convenience Stores - awarded RaceTrac with 9th Place. [11]

In 2023, RaceTrac was listed in the In Good Company Report – a list of companies that demonstrate a commitment to business generosity in a variety of ways. [12]

In 2023, Natalie Morhous, President of RaceTrac, Inc. was named Retail Leader of the Year by CSP. [13]

Programs and Partnerships

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.

References

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: Who We Are". RaceTrac. Archived from the original on 7 June 2012. Retrieved 1 May 2012.
  7. ↑ "RaceWay: About Us". RaceTrac Petroleum. Archived from the original on February 12, 2012. Retrieved 1 May 2012.
  8. ↑ MURPHY", "ANDREA. "America's Largest Private Companies 2022". Forbes. Retrieved 2023-02-17.
  9. ↑ "Mr. RaceTrac". CSP Daily News. 28 October 2009. Retrieved 25 July 2014.
  10. ↑ "Meet Cold & Frozen Dispensed Beverages Innovator of the Year: RaceTrac Petroleum". Convenience Store News. Retrieved 2023-02-17.
  11. ↑ "Best Gas Station Brand Winners (2022) | USA TODAY 10Best". 10Best. Retrieved 2023-02-17.
  12. ↑ "Georgia's Businesses are Committed to Operating Generously". goBeyondProfit. Retrieved 2023-02-17.
  13. ↑ "CSP's Retail Leader of the Year 2023: Natalie Morhous". finance.yahoo.com. Retrieved 2023-02-17.
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