S&G Convenience Stores has acquired eight PS Food Mart convenience stores in the Toledo, Ohio, market from Folk Oil Co. business unit Toledo 76 Inc.
- S&G Convenience Stores is No. 108 and Folk Oil is No. 153 on CSP’s 2025 Top 202 ranking of U.S. c-store chains by store count.
Founded in the 1920s by the Folk family, Folk Oil operates approximately 40 c-stores in south central Michigan and northern Ohio under the PS Food Mart name. It also owns and manages five automatic car washes, nine Subway franchises, a Tubby's Sub franchise, a Denny’s restaurant franchise, three Chester's Chicken franchises and the 115 Family Restaurant, according to the Homer, Michigan-based company’s website.
This transaction involved only the eight Toledo-area stores, representing a strategic divestment as part of PS Food Mart’s broader portfolio optimization plan. The sale enables Folk Oil to “right-size” its portfolio, sharpen its geographic focus and reallocate resources to accelerate growth and continue investment across its core Michigan markets, it said.
Sylvania, Ohio-based S&G operates more than 60 convenience stores under the S&G Stores and Stop & Go Stores brands. Foodservice offerings include Chester's Chicken and Godfather's Pizza.
“S&G Convenience Stores is acquiring high-quality retail assets that align well with its expanding footprint,” said Jeff Traub, partner at Downstream Energy Group (DEG), which provided exclusive merger-and-acquisition (M&A) advisory services to PS Food Mart. “Richard Folk and his team have built an exceptional company.”
Chicago-based DEG provided exclusive merger-and-acquisition (M&A) advisory services to PS Food Mart. It performed a strategic review of the company including valuation services; development, implementation and execution of a competitive sales process; and negotiation of a definitive asset purchase agreement.
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