DUXBURY, Mass. — VERC Enterprises has sold its 32 convenience stores in Massachusetts and southern New Hampshire to multiple buyers in the c-store industry. The buyers include Energy North Group, Global Partners LP and one unspecified buyer, said Leo Vercollone, CEO of VERC Enterprises.
Not included in the sale are two Briteway Car Wash locations, one in Marshfield, Mass., and one in Norwell, Mass., which will remain under the ownership of the Vercollone family.
Paul Vercollone, current co-owner and vice president of Duxbury, Mass.-based VERC Enterprises, will continue to operate these locations with his sons Nick and Chris Vercollone.
“While the decision to sell was a difficult one, we know that the stores will be operated by organizations that share the same values, purpose and commitment to service,” said Leo Vercollone. "We sincerely thank all of our wonderful customers we have had the pleasure of serving throughout our years in business. And we extend our deepest thanks and appreciation to our associates who have been the engine and backbone of our company. We are so very thankful for their hard work and dedication."
VERC Enterprises was established in 1977 by Eugene Vercollone, father of present owners Leo and Paul Vercollone. The company began as a single car wash in Marshfield and grew to become a major independent operator of convenience stores/gasoline stations throughout Massachusetts and New Hampshire. All of the company’s stores have operated under the VERC brand name and sold gasoline under leading fuel brands including Gulf, Mobil, Irving and Shell.
Since the company’s inception, VERC Enterprises has made employee engagement and community involvement key tenets of their business. Over the years, VERC has partnered with community organizations to help provide employment and opportunity for intellectually and developmentally disabled (IDD) individuals. Through these partnerships, VERC Enterprises achieved the goal of having 20% of its convenience-store workforce staffed by associates from the IDD community.
Atlanta-based Raymond James & Co. Inc. provided merger and acquisition advisory services to VERC.
Based in Lawrence, Mass., Energy North Group operates 60 gas stations, c-stores, car washes and foodservice locations in New England and Upstate New York. Its Haffner Energy Group operates the stations and distributes heating oil and propane and offers heating and cooling services.
With approximately 1,550 locations primarily in the Northeast, Waltham, Mass.-based Global Partners is one of the region’s largest independent owners, suppliers and operators of gas stations and c-stores. It has nearly 300 company-owned retail outlets under the Alltown, Alltown Fresh, XtraMart, Honey Farms, Jiffy Mart, T-Bird, Mr. Mike’s, Fast Freddie’s, Convenience Plus and P&H Truck Stop brands.