ROCKFORD, Ill. -- Road Ranger LLC said it has completed the acquisition of seven convenience store/travel centers from four companies. This month, it acquired three stores in Dubuque, Iowa, from Dubuque Discount Gas. In August, it acquired one store in Okawville, Ill., near St. Louis, from Karko LLC. In late June it acquired two stores in northern Illinois from R&B Express Mart. In May it acquired one store in Hartford, Ill., from Parson's Oil, near St. Louis.
Previously announced in February, it acquired two Grand Prix locations in northern Illinois [image-nocss] and six Quik Trip locations in Cedar Rapids, Iowa.
These transactions bring the total number of stores Road Ranger has acquired to-date during fiscal 2007 to 15.
The company's goal is to operate 100 stores by the end of the calendar year 2008, it said. Road Ranger is set to close on three more acquisitions in the next 90 days.
In addition to Road Ranger's acquisition activity, it has been active in upgrading its entire existing network, having recently finished the raise and rebuilding of the last three Clark stations it purchased in 2003, located in Belvedere, Ill., South Beloit, Ill., and Hampshire, Ill.
In 2007, Road Ranger has opened two new travel centers, located in Champaign, Ill. and in the St. Louis suburb of Fenton, Mo. Road Ranger opened an additional Subway in Hampshire. Road Ranger now operates 17 Subway's franchises.
The company recently entered into a commercial bank group syndication lead by JP Morgan Chase Bank. This syndication greatly increased the company's capacity to fund growth and efficiently secure financing over a much broader range of capital investment activities, it said.
Headquartered in Rockford, Ill., Road Ranger is a Midwest retail petroleum c-store chains with annual revenues of approximately $650 million. All stores operate under the Road Ranger banner and are located in Illinois, Iowa, Indiana, Missouri and Wisconsin. Road Ranger stores offer a broad selection of merchandise, its own brand of gasoline and other ancillary services designed to appeal to the convenience needs of its customers.
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