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The Pantry to acquire six Fuel Mate stores

Published Friday, June 23, 2006

The Pantry Inc has signed a definitive agreement to acquire six Fuel Mate convenience stores in North Carolina. The six stores, which are all near The Pantry’s headquarters in Sanford NC, generated revenues of about $24 million in 2005. This transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close in the fourth fiscal quarter; terms were not disclosed. The Pantry recently acquired a convenience store in Gadsden AL, which will be rebranded under the Kangaroo Express banner. In addition, after acquiring certain dealer fuel supply arrangements from Lee-Moore Oil Co in ...

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