Diamond Dealer Looking for C-Store Gems
Luxury-goods holding company hoping to get into convenience-store business in big way
DURHAM, N.C. -- A new player whose website indicates a luxury-goods pedigree has set its sights on the convenience-store and gasoline-retailing industry with some ambitious plans.
As reported in a McLane/CSP Daily News Flash, The Guess Corp. is seeking to acquire at least 1,000 c-stores over the next 12 months, and it has invited brokers to provide buyer representation with higher commissions to ensure the acquisition program is completed in a timely fashion, it said.
The Durham, N.C.-based company is looking to acquire an average of 100 convenience stores per month, which may include branded and unbranded units nationwide, it said. It is also considering units with or without real estate.
Upon completion of the purchases, the company intends to rebrand and renovate the properties with “innovative and sleek” designs and provide enhanced customer relationship management technology, it said.
Guess Corp. is requiring a minimum of five units in an area in order for it to consider a purchase. In most instances, the company will pay full asking price for the units as a package with payouts over a 30-day period, it said. The company is offering sellers a fast due diligence and closing process and can close a transaction within 72 hours, it said.
In addition to the retail petroleum marketing operations, the company also facilitates bulk petroleum marketing as a wholesale distributor.
Privately held Guess Corp. began as a luxury-goods holding company in 2012 with a focus on diamonds and has expanded into other businesses, including wine, chocolate, food, beverages, coffee and tea, according to its website. Major business lines include private jets, yachts, automobiles, fine art, private islands, casinos, hotels, publishing and lumber, among others.