Jonathan Griffin and Brandon Richmond, the owners and operators of four Oakcrest Market convenience stores and one liquor store, have sold the locations to Casey’s General Stores Inc. and exited the retail c-store business.
The parties did not disclose the price tag for the transaction, which closed on Sept. 12.
Casey’s acquired convenience stores and liquor store in the Fort Smith, Arkansas, area last week, the retailer confirmed for CSP. Three of the locations are in Fort Smith, and one is in Van Buren, Arkansas. The liquor store is in Fort Smith. All of the c-stores had been remodeled in the previous 24 months and have large fresh food and deli offerings.
Ankeny, Iowa-based Casey’s, which operates more than 2,600 convenience stores in the greater Midwest under the Casey’s and GoodStop brands and in Texas under the Lone Star Food Stores brand, has approximately 90 stores in the Natural State.
- Casey's General Stores Inc. is No. 3 on CSP's 2023 Top 202 ranking of convenience-store chains by store count.
“This purchase reflects our continued store growth plans, and we’re excited to serve guests at these Casey’s locations,” a Casey’s spokesperson told CSP Daily News.
Griffin and Richmond have been in the convenience-store business for more than 15 years, Grant McWhirter, partner at Southwest Petroleum Realty, told CSP Daily News. Fort Worth, Texas-based Southwest Petroleum Realty managed the transaction.
Upon selling six of their other locations in 2019, Griffin and Richmond began spending more time on their real estate development and construction company. In the past five years, they have completed several large single-family and multi-family developments throughout northwestern Arkansas and the Arkansas River Valley.
“Although it is bittersweet to exit the convenience-store industry, we could not be happier with Casey’s purchasing the Oakcrest Market locations and continuing to serve the Fort Smith area,” Griffin said.
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