Wawa Billionaires Bet on Taking the Convenience Chain South
- Wood family is worth $6 billion, Bloomberg calculations show
- Chain is targeting new markets in the Midwest and Southeast
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Kate Winslet called it a “mythical place.” Tina Fey hoisted a basket of its hoagies in a Saturday Night Live skit. Harry Styles said it’s one of his favorite things about Philadelphia.
The Wawa convenience store chain, opened by Grahame Wood in 1964 to sell milk from the family dairy, has built a fiercely loyal customer base by capturing a certain je ne sais quoi about the personality of Philly and South Jersey. With about 1,000 locations and estimated sales of $18.5 billion in 2023, the Wood family’s 53% stake gives them a net worth of $6 billion, according to the Bloomberg Billionaires Index, which is valuing the family’s fortune for the first time.