Stewart’s Shops is making a big move by acquiring a family-owned convenience store chain with 45 locations across three states, along with two fuel distribution businesses. It will also affect the Capital Region.
The chain they’re acquiring is Jolley Associates, a Vermont-based company that also runs S.B. Collins, a gas and diesel distributor, and Clarence Brown, which handles home heating oil in northwestern Vermont.
The financial details of the deal weren’t revealed, and the acquisition will need federal regulatory approval, which is expected by the end of 2024.
According to the Albany Business Review, Stewart’s Shops President Gary Dake said,
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…