Acquisition gives Village Pantry a strong foothold in the Midwest.
Miller Oil Co., based in Champaign, Ill., is set to sell its seven Colonial Pantry convenience stores to Village Pantry of Wilmington, N.C.
American Business Brokers and WJF Services Inc. facilitated the transaction. The seven stores are all located in Illinois in the following cities: Champaign, Georgetown, Paxton, Stonington, Ogden, Danville and Oakwood.
The sale is the result of a strategic decision by Miller Oil Co. President John Miller, according to American Business Brokers’ president. “Miller Oil has successfully operated these outstanding stores for a number of years,” said Terry Monroe. “Miller has reached a point in his successful business career where he is ready to downsize and pursue other business interest.”
VPS Convenience Store Group, an affiliate of Sun Capital Partners Inc., operates 440 stores throughout the Southeast and Midwest, under the names of Scotchman, Village Pantry, Young’s, Li’l Crickett and Next Door stores.
The Wilmington, N.C.-based company was ranked seventh on the Grant Thornton North Carolina 100 list of top private companies in 2010.
“This transaction will add the Conoco Phillips brand to their list of other brands and now puts them in the State of Illinois with a definite foothold in the Midwest,” noted WJF Services Inc. President Bill Fecht.