Each of Uni-Marts' 114 company-operated stores is available for sale on an individual basis and the minimum bids range from $2,500 to $342,000 for leased stores and $50,000 to $1,695,000 for stores where Uni-Marts owns the real estate. The aggregate minimum bid of all the company-operated assets is $13,565,000. These assets generated $7.2 million [image-nocss] in EBITDA (earnings before interest, taxes, depreciation and amortization) on fuels volume of 70.6 million gallons and $87.6 million in merchandise sales for the most recent 52-week period.
Also offered for sale are Uni-Marts' 93 distribution assets with an aggregate minimum bid amount of $2,143,000. Assets where Uni-Marts controls the real estate and subleases the store to a dealer are available for sale on an individual basis, while assets where Uni-Marts only has a supply relationship with the dealer are available for sale in groups based on geography. These distribution assets accounted for $1.9 million in EBITDA on fuels volume of 53.2 million gallons for the most recent 52-week period.
"Through the elimination of unprofitable assets and the successful reduction of prime operating leasehold rents, Uni-Marts is a different business than it was when it filed for bankruptcy," said Tom Kelso, managing director of Matrix. He added, "the sale of the company-operated sites are an excellent opportunity for existing operators or entrepreneurs looking to enter the industry, and the lessee-dealer and dealer operations offer a substantial amount of fuels volume and rental income at very attractive values."
Prospective buyers are encouraged to visit the Matrix website dedicated solely to the Uni-Marts sale:http://www.matrixcapitalonline.com/unimart/intro.htm for a complete list of the assets available and their respective minimum bids.
Matrix's Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the energy and multi-site retail sectors. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, private debt and equity raises, corporate restructurings, and corporate valuation and long term planning engagements.
Matrix Capital Markets Group is a leading middle market investment bank headquartered in Richmond, Virginia. Since 1988, Matrix has focused on providing merger & acquisition and financial advisory services for corporate and privately-held companies, including sales and divestitures, Staged Liquidity Transactions, management buyouts and debt and equity placements.
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