Stewart’s Shops Selling Off Five Stores As Part Of Major Acquisition

The sale is part of agreement with Federal Trade Commission.

Stewart’s Shops purchased the assets of Jolley Associates convenience store chain and two affiliated businesses, S.B. Collins and heating oil company Clarence Brown of St. Albans, Vermont. The acquisition was completed Dec. 16. Terms of the deal were not disclosed.

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Stewart's Shops headquarters is located in Ballston Spa, NY, and serves Eastern Upstate NY and southwestern Vermont. The chain has 350-plus locations with many around the Hudson Valley. Known for branded ice cream, potato chips, hard rolls, root beer, milk, coffee, and other drinks, three-fourths of their stores also sell gasoline.

For me, Stewart's Shops is a daily visit, while commuting to work in Poughkeepsie. It's always been a favorite convenience store and I usually always will stop in whether it be for a drink or a quick bite to eat.

Stewart's Shops Acquisition of Jolly Stores

The transaction adds 45 Jolley stores to Stewart’s portfolio, including five shops in New York, two in New Hampshire and 38 in Vermont. With the addition of more than 450 Jolley employees and 45 stores, Stewart’s now employs 5,500 and operates 406 convenience stores in three states. The Jolley stores gradually will be rebranded as Stewart’s Shops locations.

CSP Daily News reports that to  comply with the Federal Trade Commission (FTC), Stewart’s Shops is looking to sell five stores that are too close to new or existing locations—three Jolley Stores (in Queensbury and Plattsburgh, New York, and Manchester, Vermont) and two Stewart’s Shops (in Queensbury and Rouses Point, New York).

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Robin Cooper, spokesperson for Stewart's Shops stated, “We started marketing them over the last month. There's been quite a bit of interest, “We’ve got people that are interested in a couple locations and there’s quite a few parties that are interested in in all five locations. So we’re in the early second stage of our vetting of people that are interested, and we’re shooting for a May target date that we're hoping to have, a deal or deals lined up.”