CANONSBURG, Pa. -- Coen Markets Inc. has signed a definitive agreement to purchase the outstanding stock and operating assets of Pittsburgh-based CoGo’s Co., which operates 38 convenience stores in western and central Pennsylvania, West Virginia and Maryland and has a franchise program.
The companies did not release financial details of the transaction.
“We are thrilled to announce Coen’s latest acquisition,” said Charles McIlvaine, Coen Markets' CEO. “CoGo’s footprint is highly complementary to Coen’s existing stores. Together, the chain will have over 65 directly operated locations in Pennsylvania, West Virginia, Ohio and Maryland, with a supporting franchise network. The combined platform will enable Coen to expand its guest engagement and offer to a larger market its signature food offerings, including our famous chicken made fresh in-stores, all-natural, hand-cut jojos, CoGo’s famous pepperoni rolls and our bean-to-cup coffee.”
John Eby, CEO of CoGo’s, said, “We are proud of our team and the business that we have built at CoGo’s. Like Coen, CoGo’s is and has been family-owned. We found that Coen’s culture and track record of success were a strong match to ensure continued growth.”
Eby will stay with the combined company in a senior leadership position.
McIlvaine has said Coen Markets was looking to nearly double the number of its retail outlets in the next five years. “Our view is that we want to be in 50-plus [locations] within five years, half of them our full foodservice markets,” McIlvaine told the Pittsburgh Business Times in October 2017.
Coen’s acquisition of CoGo’s follows the sale of its Coen Energy business in fall 2017, and the subsequent concentration on expanding its retail platform.
Canonsburg, Pa.-based Coen Markets is a subsidiary of Coen Oil Co. LLC, which was founded in 1923. It owns and operates 27 Ruff Creek Market c-stores in Pennsylvania, Ohio and West Virginia. Coen Tire, an additional operating division, is a leading tire retailer in the region.