Stewart's Shops Seeking Buyers for Stores Amid Jolley Acquisition

Deal News | Feb 12, 2025 | EIN

Stewart's Shops Seeking Buyers for Stores Amid Jolley Acquisition

Stewart's Shops, a well-established convenience-store chain, is selling five of its stores as per its agreement with the Federal Trade Commission (FTC) to facilitate the acquisition of Jolley Associates. The transaction includes Jolley's 45 convenience stores, a petroleum products company, and a heating oil business. While the financial terms of the acquisition were not disclosed, the deal surpasses the FTC's premerger notification threshold of $126.4 million. Stewart's Shops is strategically divesting the stores to comply with regulatory requirements concerning market overlap. The company is actively marketing these locations to potential buyers, with interest being shown in both individual and all locations, targeting a deal conclusion by May. Post-acquisition, the remaining Jolley stores will undergo rebranding to become Stewart's Shops, with some potentially being rebuilt, marking a significant expansion for Stewart's in new regions.

Sectors

  • Convenience Store Retail
  • Petroleum and Heating Oil

Geography

  • United States – The geographical context is within the U.S., specifically involving states like New York and Vermont where these companies operate.

Industry

  • Convenience Store Retail – The article primarily involves Stewart's Shops, a convenience-store chain, and their acquisition of Jolley Associates, another player in the convenience store and fuel retail market.
  • Petroleum and Heating Oil – The acquisition by Stewart's Shops includes petroleum product suppliers and a heating oil business, adding these sectors to the narrative.

Financials

  • Over $126.4 million – This is the premerger notification threshold surpassed by the deal, according to the FTC.

Participants

NameRoleTypeDescription
Stewart's ShopsBuyerCompanyAn employee and family-owned convenience-store chain based in Ballston Spa, New York, that is acquiring Jolley Associates.
Jolley AssociatesTarget CompanyCompanyA provider of convenience stores, petroleum products, and heating oil based in St. Albans, Vermont, being acquired by Stewart's Shops.
Federal Trade Commission (FTC)Regulatory BodyGovernmentA U.S. government agency involved in overseeing competition and compliance in this transaction.