US convenience store chain The Pantry has announced that it has completed the acquisition of 13 convenience stores in Alabama from Chatham Oil Company, which has been operating the stores under the Speedmart Food Stores banner.
The acquisition expands The Pantry’s presence in Alabama to 38 stores, and is expected to be immediately accretive to the company’s earnings per share. The acquisition was financed with cash on hand and seller lease financing. Terms of the transaction were not disclosed.
Headquartered in Sanford, North Carolina, The Pantry operates convenience stores in the southeastern US. Its banners including Kangaroo Express, The Pantry, Golden Gallon, Cowboys, and Lil Champ Food Store.