BOYNTON BEACH, Fla. -- On the Move Corp. (OTM) and Stewart’s All American Corp. have signed an exclusive development agreement. The 12-year agreement calls for the development of 250 Stewart’s locations exclusive to On the Move convenience stores throughout Florida and Georgia.
Boynton Beach, Fla.-based OTM is a publicly reporting company founded and incorporated in Nevada in 2014 to engage in the acquisition of convenience stores under the On the Move brand. The company intends, subject to the availability of financing, to acquire up to 50 convenience stores in 2016 and open 25 Stewart’s Express restaurants, most of which will be in Florida. Each will be operated under the On the Move brand.
Its convenience stores will have fresh food offerings under its own proprietary brand, as well as offer national chains such as Stewarts, Dunkin Donuts, sandwiches; beverage and tobacco products; health and beauty aids; automotive products; and other nonfood items. In addition, it will be involved in the retail sale of gasoline on a self-service basis.
“We couldn’t be more excited to bring an iconic brand like Stewart’s, with its rich history, to compete with Wawa, RaceTrac and other convenience-store chains. We expect that Stewart’s history and following from the Northeast U.S. will contribute to our rapid expansion plans for the states of Florida and Georgia throughout 2016,” said R. J. Reitano, chairman and CEO of OTM.
OTM’s plans are to include a Stewart’s in as many On the Move Convenience stores as possible. The foodservice concept offers a full menu of burgers, frankfurters, cheese-steaks, fries, Stewart’s Root Beer and ice cream floats, shakes, cones and sundaes.
Management has identified five locations in the South Florida market to begin the process along with 50 additional acquisition targets throughout Florida.
“I am extremely impressed with the vast knowledge that the principals of On the Move have in the convenience store markets in Florida and Georgia. I am even more excited about the synergies we can put in place to grow Stewart’s and On the Move moving forward in unique ways," said Jim LaGanke, president of Stewart’s All American Corp.
“We have great opportunities in growing the Stewart’s franchise brand in the Northeast, and now we have the perfect relationship with On the Move to expand with 250 more locations in the Southeast,” he said.
“We believe it’s a brand differentiator from Speedway, Dailey’s and stopping at a 7-Eleven," said Reitano. "There is no doubt in my mind that Jim and his team at Stewart’s have the expertise to develop something special at On the Move every day. This will also give our customers an alternative to the dominant fast-food chains such as Subway, Burger King and McDonald's with a higher-quality product competitively priced."
OTM will also develop standalone Stewart's units, separate from its convenience stores, like Sheetz, and bring the all-America menu to malls, airports and universities throughout Florida and Georgia, the company said.
Stewart's All-American Corp. is based in Rutherford, N.J. It has more than 60 full-service and express restaurants, 38 in New Jersey with the rest in Maryland, Missouri, Kentucky, Oklahoma, Ohio, West Virginia, Pennsylvania and Florida. The restaurants serve Stewart's Root Beer and classic sodas.
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