Wednesday, March 2, 2022
Transaction Announcement: Majors Management Announces Acquisition of Sixty-Nine Convenience Stores
Source: PR Newswire
By Benjamin SmithLAWRENCEVILLE, Ga., March 2, 2022 /PRNewswire/ -- Majors Management, LLC, and its affiliates ("Majors"), a growing leader in the. convenience store industry, announces it has acquired sixty-nine convenience store locations from Circle K Stores, Inc. ("Circle K"). The sites, located in Louisiana, Alabama, Florida, South Carolina, North Carolina, and Virginia, were acquired by Majors in the fourth quarter of 2021. The acquisition extends Majors' geography into the state of Virginia and expands Majors' footprint in the other southeastern states. Thirty-four of the sites will convert to franchised Kangaroo Express locations.
"We are pleased to have collaborated with the teams at NRC Realty & Capital Advisors, LLC ("NRC") and Circle K to close this acquisition quickly, efficiently, and without disruption to the stores. NRC did a first-class job conducting the sale of these assets, and the team at Circle K were professionals in all respects. I am incredibly proud of the effort everyone at Majors showed in completing this transaction in record time overcoming the challenges associated with taking over sites spread across six states. We thank all the people that contributed to the smooth transition." said Majors' President, Ben Smith. "We are excited to expand our franchise relationship with Circle K, grow the Kangaroo Express brand, and grow Majors' footprint in new markets."
Lawrenceville, GA-based Majors Management, LLC is an owner, developer and operator of convenience stores and a distributor of high-quality branded motor fuels. Majors and its affiliates supply fuel to over 1,200 convenience store locations. Majors partners with leading petroleum brands including BP, Shell, Chevron, Exxon, Marathon, Citgo, Mobil, Texaco, Valero, Phillips, Sunoco, 76, and Alon. Its current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia. In the last two years, Majors has completed thirteen acquisitions across eleven states.
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To see a list of convenience stores and gas stations for sale, click here.