The Pantry to acquire six Fuel Mate stores
Jun 23, 2006 8:40 AM, from staff and wire reports
The Pantry Inc has signed a definitive agreement to acquire six Fuel Mate convenience stores in North Carolina. The six stores, which are all near The Pantry’s headquarters in Sanford NC, generated revenues of about $24 million in 2005.
This transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close in the fourth fiscal quarter; terms were not disclosed.
The Pantry recently acquired a convenience store in Gadsden AL, which will be rebranded under the Kangaroo Express banner. In addition, after acquiring certain dealer fuel supply arrangements from Lee-Moore Oil Co in February, the company purchased a store it was supplying with fuel.
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