Stewart’s Shops Acquires Jolley Associates Convenience Store Chain
Agreement Signed to Purchase Assets of 45-Store Chain
Stewart’s Shops officials announced on Friday that the company has signed an agreement to purchase the assets of the Jolley Associates convenience store chain. The acquisition is expected to be finalized by the end of the year, pending federal approval.
Deal Includes Purchase of 45 Stores Across Three States
The deal includes the purchase of 45 stores, 38 of which are located in Vermont. The chain has two locations in New Hampshire and five across New York in Queensbury, Clifton Park, Lake George, and Plattsburgh.
Stewart’s President Commends Jolley’s Reputation and Employees
"We are thrilled to have this opportunity to acquire a company with such an impressive reputation in a market that we’ve been watching for many years," said Stewart’s Shops president Gary Dake. "One of the primary reasons we were drawn to this deal is because of the quality and the character of Jolley’s employees."
Jolley Associates President Expresses Gratitude and Confidence
"We are proud of what we have accomplished over the years and we are happy to know that Stewart’s is providing our employees an opportunity to have ownership in the business and will continue to treat them well," said Bruce Jolley, president and co-founder of Jolley Associates.
Acquisition to Add to Stewart’s Portfolio of 360 Shops
Stewart’s will also acquire Jolley’s sister companies S.B. Collins, a gasoline and diesel provider, and Clarence Brown, a heating oil business based in Saint Albans, Vermont. The purchase will add to the 360 Stewart’s Shops located throughout New York and Vermont.
Conclusion
The acquisition of Jolley Associates by Stewart’s Shops is a significant move that will expand the company’s presence in the region. With its commitment to quality and employee satisfaction, Stewart’s is well-positioned to continue to grow and thrive in the competitive convenience store market.
FAQs
Q: How many stores will Stewart’s acquire from Jolley Associates?
A: 45 stores, including 38 in Vermont, 2 in New Hampshire, and 5 in New York.
Q: When is the acquisition expected to be finalized?
A: By the end of the year, pending federal approval.
Q: What companies will Stewart’s also acquire from Jolley Associates?
A: S.B. Collins, a gasoline and diesel provider, and Clarence Brown, a heating oil business based in Saint Albans, Vermont.
Q: How many Stewart’s Shops are currently located throughout New York and Vermont?
A: 360 shops.
