Dive Brief:
- Stewart’s Shops has sold four convenience stores to Mirabito Energy Products and two to Prestige Petroleum, a company spokesperson confirmed to C-Store Dive.
- Mirabito’s acquisition introduces the company’s c-store banner to Vermont, according to a company announcement.
- Five of the six stores were divested as part of an agreement with the Federal Trade Commission ahead of Stewart’s closing its acquisition of the 45-store Jolley chain, the spokesperson confirmed.
Dive Insight:
Stewart’s closed its deal for Jolley in December of last year. The deal grew its footprint in Vermont and New York and gave Stewart’s its first foothold in New Hampshire.
Mirabito, an energy and convenience company based in Binghamton, New York, purchased former Stewart’s locations in Queensbury and Rouses Point, New York, and former Jolley locations in Plattsburgh, New York, and Manchester, Vermont.
“We are proud to welcome these locations into the Mirabito family,” said David Bonczek, CEO of Mirabito Energy Products, in a separate announcement. “We have been honored to provide residential and commercial fuels along with HVAC services in these regions for many years, and we look forward to strengthening those relationships by delivering reliable convenience and added value both at home and on the road.”
These locations will be rebranded to Mirabito and begin accepting its Mirabito Rewards loyalty program, which gives customers fuel discounts and special offers.
Prestige Petroleum purchased two former Jolley locations in Queensbury, according to the Stewart’s spokesperson.
This is the second time in the past month a convenience retailer has divested stores to get FTC approval for an acquisition. Alimentation Couche-Tard sold 35 locations to Majors Management as part of its purchase of GetGo Cafe + Market from grocer Giant Eagle.
