US convenience store business Mid-Atlantic Convenience Stores (MACS) has been sold to gasoline distributor and retailer Sunoco.
MACS, which operates convenience stores in Maryland and Virginia, was acquired by private-equity firm Catterton Partners in 2010.
The private-equity firm said it has taken a number of initiatives to improve performance, including unifying store brands, improving store presentations and focusing on refreshments and foodservice. Over the past two years, the group has seen same-store sales, excluding fuel, rise by 46%.
Catterton emphasised the chain is now a “leading development platform” in the c-store space.
MACS is the exclusive developer for the Circle K brand in Delaware, Maryland, Virginia and Washington, D.C.
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