GREEN BAY, Wis. – Dino Stop Convenience Stores is exiting the industry after serving the Green Bay area for more than half a century.
The six-store chain is being taken over by 7E CO Holdings LLC, a Denver-based convenience store chain of 60 with locations in Texas, Minnesota and Wisconsin.
“I owe much of the stores success to my wife Angela and our team members who have helped over the years. Although selling the stores was a bittersweet experience, I knew it was the right one. decision for me and my family,” said Tony Wied, president of Dino Stop.
Dino Stop was founded in 1971 and operated locations in Little Suamico, Abrams, Green Bay, Manitowoc, Ledgeview and New Franken, Wis. Wied acquired Dino Stop in 1998.
Terry Monroe, owner of American Business Brokers & Advisors, provided M&A advisory services to 7E CO Holdings and Dino Stop, including advice on valuation and other transaction terms.
The legal side of the transaction was handled by Mike Demerath of Green Bay-based Hager, Dewick & Demerath.
A flurry of offers
The M&A landscape in the convenience store industry has been hot lately, with smaller operators in the chain being taken over by larger players.
Earlier this month, Yesway acquired nine Tres Amigos convenience stores in Texas. Each Tres Amigos store has 2,828 square feet of merchandising space and six refreshment stations. Additionally, several locations offer diesel refueling islands.
With the Tres Amigos pickup, Fort Worth-based Yesway’s portfolio now stands at 423 stores, with more than 30 new-to-industry and relocated stores recently opening so far in 2022.
In another caseBy Mar Stores has expanded its presence in Maryland through the acquisition of four convenience stores in the Westernport area.
The convenience store operator recently acquired Best Price Market in McCoole, Fair Price Quick Stop in Westernport and Rite Price Quick Stop in Oakland from a local business owner. He also purchased the old Route 135 fuel stop in Westernport.
Three of the newly acquired stores will begin operating under the Par Mar banner in early September. The Westernport fuel stop is expected to open later in the fall.
Par Mar Stores selected these locations for acquisition because they are all performing well and located in good areas, according to Dave Allen, spokesperson for Par Mar Stores. The retailer was also drawn to the area because of its growth potential and tourist attractions such as Deep Creek Lake and local campgrounds.
Based in Marietta, Ohio, Par Mar Stores operates nearly 200 convenience stores in five states.
In addition, Refuel Operating Co. LLC continued its series of acquisitions and increase its number of stores by acquiring the assets of Premier Stores Inc., based in Greensboro, North Carolina. The transaction included six stores in the Greensboro Market.
Refuel has also entered into an agreement to acquire the assets of The Whalen Corp., a Raleigh, North Carolina-based chain with three stores in the Raleigh-Durham market.
The transactions mark the 12th and 13th acquisitions for Charleston, SC-based Refuel since establishing its partnership with First Reserve in May 2019, bringing the retailer’s total store count to 195 company-operated locations. in Texas, Mississippi, Arkansas, South Carolina and North Carolina. .