Independent convenience store chain The Pantry has completed the previously announced acquisition of some 33 convenience stores.
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The largest of these transactions was the purchase of 24 Sun Stop convenience stores in Florida, Georgia and Alabama from Southwest Georgia Oil Company. That group of stores generated revenues of approximately US$110m in 2005, The Pantry said.
In addition, the company has acquired eight convenience stores in Gainesville and Ocala, Florida, from Rousseau Enterprises, which operate under a variety of trading names and saw sales of approximately $21m in 2005.
Also included in this raft of acquisitions was the purchase of a convenience store in Naples, Florida, which will be The Pantry’s second store in that area.
The Pantry has also entered into definitive agreements to acquire two more convenience stores in the Naples area and a single outlet in Louisiana. It expects to complete those acquisitions, which remain subject to regulatory approvals and other customary closing conditions, in the third quarter of the current fiscal year.
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By GlobalData
