| RaceTrac, Inc. | |
| Type: | Private |
| Industry: | Retail (convenience stores) |
| Key People: | Carl Bolch Natalie Bolch Morhous Max McBrayer |
| Num Employees: | 10,082 |
| Location: | Atlanta, Georgia, U.S. |
| Locations: | 667 |
RaceTrac Inc. is an American corporation that operates a chain of gasoline service stations across the Southern United States. In 2023, Forbes ranked RaceTrac Inc. as the 18th largest private company in the United States and ranked 22 with an annual revenue of $19.72 billion.[1]
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.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.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]
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 Ohio, marking the chain's first move into the Midwestern United States. The first location is expected to open sometime in 2024 in the Columbus suburb of Delaware. RaceTrac's expansion into Ohio follows Wawa's planned expansion into the state, as well as Buc-ee's planned location in the Dayton, Ohio area, Sheetz's expansion into Columbus & Dayton, Casey's expansion into the western part of the state, and 7-Eleven's purchase of Ohio-based Speedway.[9]
The company has been ranked on Forbes magazine's list of largest private companies every year since 1998. [10]
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".[11]
In 2017, Convenience Store News named RaceTrac as the Cold & Frozen Beverages Innovator of the Year. [12]
In 2023, USA Today 10Best Awards: Convenience Stores - awarded RaceTrac with 3rd Best Gas Station Brand in the U.S. [13]
In 2023, RaceTrac was listed in the In Good Company Report – a list of companies that demonstrate a commitment to business generosity. [14]
In 2023, CSP named Natalie Morhous, President of RaceTrac, Inc. as Retail Leader of the Year. . [15]
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. https://www.michaeljfox.org/news/racetracs-longstanding-legacy-giving-back-speed-parkinsons-cure