Mergers & Acquisitions

Smoker Friendly Buys 30 Collett Enterprise Stores

Move marks Cigarette Store’s 6th acquisition in 2 years
Smoker Friendly store
Photograph courtesy of Smoker Friendly

BOULDER, Colo. — The Cigarette Store LLC, doing business as Smoker Friendly, has acquired Collett Enterprises Inc.’s 30 tobacco stores across Indiana and Kentucky. The stores were a longtime licensee of Smoker Friendly International, and therefore, already display the Smoker Friendly name and logo, the tobacco- and convenience-store chain said.

  • The Cigarette Store Group is No. 41 on CSP’s2022 Top 202 ranking of U.S. convenience-store chains by company-owned store count.

“It has been a challenging 28 years in the retail tobacco industry, and I could not have done it without the support of my wonderful staff,” said Darren Collett, president and owner of Collett Enterprises. “I have been friends with the Gallaghers for many years; when I decided to sell, I knew The Cigarette Store LLC was the right buyer. I know my employees will be in good hands. This is a great industry, and I will miss the many friends I have made along the way.”

Smoker Friendly CEO Terry Gallagher Jr. noted Collett’s friendship and advocacy for the tobacco-store community, wishing him the best in his next phase.

This was the sixth acquisition for Boulder, Colo.-based Smoker Friendly in the past two years, bringing its store count to 290, operating in 13 states. The company is the largest licensee of Smoker Friendly International and operates a mix of tobacco stores, cigar lounges, liquor stores and fueling locations under the Smoker Friendly, Tobacco Depot, Smoke ‘N Go, Havana Manor and Gasamat banners.

Its last acquisition was in August when it bought 79 Tobacco Superstores, Forrest City, Ark.  

Investment firm Main Street Capital Corp. made a $51.7 million investment in Smoker Friendly, taking a minority stake in the company, in January 2021. The investor provided the chain a revolving line of credit to support its working capital needs and assist with its acquisition growth strategy.

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Related Content

Trending

More from our partners