SANFORD, N.C. -- The Pantry Inc. said it has completed the previously announced acquisition of 16 Angler's Mini-Mart convenience stores in the Charleston, S.C., market.
The stores generated revenues of approximately $73 million in 2005.
Separately, the Company has also completed the previously announced acquisition of a convenience store in Sanford, N.C. In addition, it has entered into definitive agreements to acquire single stores in the Myrtle Beach, S.C., and Naples, Fla., markets. The Naples store will be the company's second [image-nocss] in that market.
All of these transactions, which are expected to be immediately accretive to the company's earnings per share, have been or will be financed with a combination of cash on hand and lease financing. Terms were not disclosed.
Headquartered in Sanford, N.C., The Pantry, had revenues for fiscal 2006 of approximately $6 billion. As of Dec. 28, 2006, it operated 1,506 stores in 11 states under select banners, including Kangaroo Express, its primary operating banner.
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