WESTLAKE, Ohio -- As one company exits the convenience-store business, another continues its c-store empire building.
As reported in a 21st Century Smoke/CSP Daily News Flash, TravelCenters of America LLC said it has completed its acquisition of 10 convenience stores in Ohio from Stop’n Go of Medina Inc.
TravelCenters of America expects to rebrand these convenience stores as Minit Mart convenience stores, it said, and that they will undergo improvements in the coming months.
The Westlake, Ohio-based truckstop and travel center company has been on a c-store acquisition binge.
TravelCenters of America has agreed to acquire 123 convenience stores for about $230 million in six separate transactions from August through December. It expects to rebrand each c-store as Minit Marts, as well as add prepared on-site food offerings at many of these stores and rebrand the gasoline at about half of them, CEO Thomas O’Brien said during the company’s second-quarter 2015 earnings call.
Stop’n Go is a family owned and operated convenience-store chain operating 10 locations in Medina and Wayne counties in Ohio.
The chain was founded in 1963 and operated by Carl & Ruth Abell to provide milk distribution for the family owned Elm Farm Dairy. In 1987, daughter Becky Shotwell and husband Frank became the next generation at the helm of Stop’n Go. They expanded foodservice and added Subways, ATMs and car washes to meet customer needs.
The Shotwells said in a press statement announcing the deal that "they have enjoyed the convenience store business and will miss the many employees and customers who helped them grow the Stop’n Go chain to what it is today."
Carl Abell, 88, founder of the chain that was then called Stop-N-Go Foods, passed away in late October.
Terry Monroe of American Business Brokers & Advisors, Effingham, Ill., and Bill Fecht of W.J.F. Services Inc., Normal, Ill., provided merger and acquisition advisory services to Stop’n Go.
TravelCenters of America's more than 250 full-service travel centers operate under the TravelCenters of America, TA, Petro Stopping Centers and Petro brands in 43 U.S. states and in Canada. The facilities include diesel and gasoline fueling, restaurants, truck repair facilities, travel and convenience stores and other services. The company also operates 184 convenience stores, principally under the Minit Mart brand, in 11 states.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.