“This agreement truly represents a win-win for all parties involved,” says Fikes Wholesale CEO.
Fikes Wholesale Inc., parent company of the 194 location CEFCO Convenience Stores Chain based in Temple, Texas, has successfully acquired the retail interests of 63 Taylor Food Mart Stores from Taylor Petroleum Co. based in Amarillo, Texas.
The Taylor Food Marts are located in West Texas, Oklahoma and New Mexico. Terms of the agreement were not disclosed.
“We are pleased to welcome the Taylor Food Mart team and stores into our Fikes/CEFCO Convenience Store Family,” said James Fikes, president and CEO of Fikes Wholesale Inc. “This agreement truly represents a win-win for all parties involved and we look forward to serving our customers in these new market areas with immediate plans to resupply depleted inventories.”
“The addition of the Taylor Stores coupled with the August 2011 acquisition of the 69 store Food Fast Store group has helped our company grow to a 257 store chain operating in seven states,” said Fikes. “Our CEFCO growth also provides synergistic opportunity for other Fikes Cos.”
“These businesses include Fikes Wholesale (supplier of branded and unbranded fuel to retail and commercial customers) Group Petroleum Services (common carrier fuel transport fleet), Cord Financial Services (Nationwide ATM provider of more than 6,000 ATM’s) and JF Air (Charter air service).”