Dive Brief:
- Legacy Markets LLC, a new c-store venture based in Hendersonville, North Carolina, has acquired the 10-location Triangle Stop Food Stores chain for an undisclosed amount, according to a Tuesday company announcement.
- All of Triangle’s locations are located in western North Carolina. The acquisition also includes Triangle’s parent company and fuel distributor, JH Reaben Oil Co.
- The purchase marks the first of many planned acquisitions, and the company expects to have about 80 convenience stores across the Southeast in its network by the end of the year, Matt Thomas, vice president of business development, said in a statement to C-Store Dive.
Dive Insight:
Legacy expects to keep Triangle’s c-store banner in place, part of a planned M&A strategy “focused on maintaining the brand, employee base, and culture of each acquired entity.”
Legacy isn’t starting completely from scratch, as its leadership team consists of individuals who’ve worked around the c-store industry for several years. Thomas formerly worked for Southeastern retailer Transit Energy Group — whose 350 locations were acquired by GPM Investments, the c-store arm of Arko Corp., in 2023 — while Legacy’s CEO is Jack Helmick, who was a VP with the now-defunct SuperAmerica c-store banner and its owner, Northern Tier Energy Co.
“We look forward to working with the Triangle Team,” Helmick said in Tuesday’s announcement. “The owners have built a truly successful business and entrusted us with a legacy of excellent customer service, friendly staff, and great local offers for our customers.”
The company is separate from Virginia-based c-store retailer Legacy Markets, which operates a handful of convenience stores and a car wash in several areas across northern Virginia.
Triangle’s 10 convenience stores include locations across North Carolina, including the cities of Hendersonville, Saluda, Pisgah Forest, Brevard, Horse Shoe, Flat Rock and Fletcher, according to the company’s website.