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Mergers & Acquisitions

Texas Retailer Expands in Midwest

HAG Investments buys 8 c-stores in Missouri, with plans to acquire more than 30 this year
Photograph: Shutterstock

JEFFERSON CITY, Mo. — As part of a Midwest expansion plan, HAG Investments LLC has acquired eight Bee Line Snack Shops in Missouri, owned by Jefferson City, Mo.-based Bemboom Properties.

Five of the convenience stores are in Jefferson City and one each is in Hartsburg, Russellville and Ashland, Mo.

Bee Line owner Dottie Bemboom is retiring, Narendra Manney, president of Chicago-based MNP Invest and Advisory Corp., told CSP Daily News. MNP Invest and Advisory and Results Realty Partners LLC, St. Louis, advised HAG Investments and Bemboom Properties in arranging funds for this transaction.

The Bee Line locations offer Gulf-branded gasoline. The new owner “has plans to bring another nationally recognized brand to these locations,” Manney said.

The company also plans to remodel the store exteriors, add more inventory, install new pumps and create a new image, he said.

HAG Investments President Haribol Bhandari and his partners own and operate 27 independently branded convenience stores in western Texas. The Jefferson City-based company has more than a dozen additional c-stores under consideration for acquisition in Missouri and Illinois and is planning to acquire 30 more stores by the end of 2020, Manney said.

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