Stewart's Shops Acquires Jolley Stores and S.B. Collins

Stewart's Shops Corp., an employee- and family-owned convenience-store chain, has successfully completed the acquisition of Jolley Associates LLC and S.B. Collins Inc. This transaction includes the takeover of Jolley's retail convenience stores, wholesale dealer, and residential heating oil businesses. Jolley Associates operates 45 convenience stores under the 'Short Stop' brand across Vermont, New Hampshire, and New York. S.B. Collins is an established petroleum distributor in these areas. Originating over a century ago, S.B. Collins was initially founded by Stephen Brooks Collins and later owned by Emanuel Jolley, who expanded it into a convenience store operation under the leadership of his sons, Bob and Bruce. The acquisition by Stewart's Shops, which was founded in 1945 and currently operates 357 stores in upstate New York and southern Vermont, was advised by Matrix Capital Markets Group Inc., known for their expertise in the downstream energy and retail investment banking sectors. This strategic deal marks a significant expansion of Stewart's operations in the Northern US market.