Mergers & Acquisitions

Stewart’s Shops Acquiring Red-Kap

Retailer will add 8 c-stores, more than 75 dealers and expand fuel distribution business
stewarts shops csp

BALLSTON SPA, N.Y. — Stewart’s Shops Corp. will acquire eight convenience stores, three car washes, a more than 75-dealer network and the fuel distribution business from Red-Kap Sales Inc., a Schenectady, N.Y.-based family-run business.

Stewart’s will maintain the branding of the Mobil, CITGO and Sunoco gas stations and will convert a few of the Red-Kap locations into Stewart’s Shops, it said.

“From our humble beginnings in one gas station, Red-Kap has grown to be a multi-site convenience store and car wash operator as well as one of the largest gasoline suppliers in upstate New York,” said Red-Kap principal Jon Kaplan.

“None of this would have been possible without the work and talent of our employees, customers and business partners along with the support of our families. We thank all of you for your contributions to our success. Being acquired by Stewart’s is our final success. We have had a long and prosperous relationship with Stewart’s, during which we have grown to respect and trust them. We know that we are leaving our employees and customers in good hands and able to face the challenges of the future with Stewart’s and the Dake family. Knowing that Stewart’s is a locally owned family business only adds to our contentment with this transaction. Thank you to everyone who made all of this possible,” he said.

“Stewart’s has always respected the business and our long personal relationship with the Kaplans and their team,” said Stewart’s Shops president Gary Dake. “Doing business with people who respect people is always a pleasure. Both organizations come from long local family histories that have helped form the communities where we live. The acquisition will add eight corporately run locations and a significant addition of gasoline supply and distribution to local stations. Stewart’s prides itself on vertical integration and support. In the age of COVID, with an ever-changing business climate, we look forward to extending this support to the distributor/dealer network.”

In January, Stewart's Shops acquired five gas stations from Polsinello Fuels Inc. and purchased the Rensselaer, N.Y.-based company’s gasoline and diesel fuel distribution business.

Stewart’s Shops is an employee- and family-owned c-store chain that is known for its milk, ice cream, coffee, Easy Food meals and other convenience items. There are 336 Stewart’s Shops in upstate New York and southern Vermont.

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