Friday, October 18, 2019
Majors Management Acquires 18 C-Stores in Georgia
Seller McDonald Oil will continue to operate other retail businesses
Source: CSP Daily NewsBy Greg Lindenberg, Editor
LAWRENCEVILLE, Ga. — Majors Management LLC has purchased 18 convenience stores under the Summit Food Store brand in west central Georgia from McDonald Oil Co.
The stores are primarily in the LaGrange and Columbus, Ga., metropolitan areas.
The sale also includes four open dealer accounts. The buildings average 2,976 square feet on lots averaging 1.2 acres.
“We are very pleased to sell our stores to another operator based in Georgia. We are confident that our Georgia locations will be in good hands with Marvin Hewatt and his entire team,” said John McDonald, president and CEO of LaGrange, Ga.-based McDonald Oil.
John and Gail McDonald founded McDonald Oil in 1972. It opened its first convenience store in 1976. Through the years, it has owned and operated as many as 56 retail outlets stores in Georgia, Alabama and Florida.
McDonald Oil and its LABE Restaurant Group will continue to operate its other business interests, the company said. It will maintain its Summit Stores convenience outlets on the Alabama Gulf Coast and its Frisky Whisky liquor store on the Georgia side of the Alabama state line. LABE Restaurant Group will continue operations of its Dairy Queen Grill & Chill restaurants and its Jersey Mike’s Sub Shops in Georgia, Alabama and Florida.
Lawrenceville, Ga.-based Majors Management develops, services and supports leased c-stores with gasoline and retail sales. It is a distributor of branded motor fuels, and it partners with brands such as Chevron, CITGO, Exxon, Mobil, Phillips 76, Shell, Sunoco, Texaco and Valero. Its current markets include Georgia, Florida, Tennessee, Louisiana, Ohio, Alabama, Mississippi, South Carolina, North Carolina and Arkansas.
Hewatt founded Allstar Petroleum Inc. in 1999, Excell Petroleum in 2001 and Majors Management in 2002 to manage a growing real estate portfolio. From 1998 to 2011, the companies developed more than 100 new stores. Majors Management is focused on improvement in support of its convenience-store owners, small-business entrepreneurs, fuel customers, petroleum partners and communities, the company said.
NRC Realty & Capital Advisors LLC served as exclusive financial adviser to McDonald Oil in the sale. The Chicago-based firm provides real estate and financial advisory services to the c-store and petroleum industries. Since its inception in 1989, NRC has sold more than 15,000 properties.
To see a list of convenience stores and gas stations for sale, click here.