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Mergers & Acquisitions

2 M&A Deals to Wrap Up 2017

Retailers report acquisitions in Colorado and North Carolina

DENVER & RALEIGH, N.C. -- The convenience-store industry will wrap up 2017 with two acquisitions in separate parts of the country that will see 14 stores change hands.

In North Carolina, Sampson-Bladen Oil Co. is acquiring six Tank & Tummy locations for $5.63 million, according to a report in the Triad Business Journal.

Rebranding of the stores, which include three locations in Asheboro, two in Randleman and one in Denton, to Sampson-Bladen’s Han-Dee Hugo’s retail brand is underway, according to the report.

Raleigh, N.C.-based Sampson-Bladen Oil Co. operates more than 80 Han-Dee Hugo convenience stores in North Carolina. The company's main market is the Research Triangle: Raleigh, Chapel Hill and Durham, N.C. It ranked No. 74 in CSP's 2017 Top 202 list of the largest c-store chains in the United States. Tank & Tummy LLC is based in Asheboro, N.C.

In Colorado, Alta Convenience Stores is purchasing eight Kwik Stop convenience stores, according to a report in the Daily Record. The deal is expected to close Jan. 3.

Dave McCallister and Alan Drake, the current owners and operators of the stores, said Alta plans to retain the company's employees and managers, but as owners, they will no longer have roles in operating the stores, according to the report.

Alta Convenience is a division of Pester Marketing, Denver, which owns and operates more than 60 c-stores. Alta ranked No. 104 in CSP's 2017 Top 202 list of the largest c-store chains in the United States.

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