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Mergers & Acquisitions

Maverik Acquiring Best Stop C-Stores

Longtime competitor exiting convenience business

SALT LAKE CITY -- Maverik Inc. is acquiring four Best Stop convenience stores in two states as of Oct. 1, the company has announced. Three of the stores are in Logan and North Logan in northern Utah, and one is in Franklin in southern Idaho.

“Maverik has been a part of the community in Cache Valley for a long time and we are excited to continue our growth there with these four stores,” said Aaron Simpson, vice president of marketing for Salt Lake City-based Maverik.

The company plans to remodel the stores “immediately,” he said. The Best Stops will all become Maverik c-stores by November or December, Simpson told The Herald Journal.

Dave Bessinger and his family have owned and operated Best Stop since opening his first store in Logan in 1975. He said that three elements have supported his success over the years: family, employees and the Cache Valley community.

But Bessinger is exiting the convenience-store business. “I don’t have the energy to keep it up, and my family has more interest in other courses in their life,” he told the newspaper.

He said he is happy Maverik is the company that will be purchasing his stores, even though they were longtime competitors. “Maverik wants to be a good partner with the community, and they’re really leaning over backwards to show that,” he said.

Bessinger has “done a great job of being part of the community,” Simpson told the Journal. “I think it’s going to make for a great transition. We can keep his legacy alive.”

Maverik, which calls itself “Adventure’s First Stop,” has more than 315 c-stores in 11 states. The chain targets young adventure seekers and outdoor enthusiasts by establishing itself as a “base camp” for activities such as off-roading, biking, canoeing and mountain climbing and incorporating them into the stores’ concept and decor.

 

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