Wednesday, April 18, 2012
S&S Fuels Acquires Las Vegas-Based City Stop Chain
Source: Convenience Store News
CHICAGO -- S&S Fuels LLC of Littleton, Colo., recently purchased the assets of Las Vegas-based 11-store chain City Stop Inc. and its affiliates. NRC Realty & Capital Advisors served as exclusive financial advisor to City Stop during the private placement sale.
The sale includes all 11 City Stop sites plus the underlying real estate for nine of the locations and leasehold interests for the other two. Gasoline will rebranded to Sinclair, and S&S has arranged to rebrand the stores to the 7-Eleven banner, NRC reported.
City Stop offers a "one-stop-shopping" concept that features multiple services, including fuel, car washes, groceries, gaming and U.S. Postal Service units, as well as co-branding with national quick-service restaurant chains, such as Jack-in-the-Box and Domino's Pizza. All City Stop locations are situated on high visibility corner lots along high-traffic corridors and cross streets, with close proximity to major highways and thoroughfares, according to the announcement. The average building size is 3,500 square feet on an average lot size of 1.25 acres.
City Stop co-founders Bruce Familian and Jon Athey began operating in 1997 and will serve in a consulting capacity to S&S following the sale.
"As I exit the c-store business to devote more of my energies into other development opportunities, I'm pleased to place my company in such capable hands," said Familian, president of City Stop. "I appreciate the efforts of NRC in making this deal happen."
"City Stop is a first-class operation in all respects -- prime real estate, fantastic stores, solid financials, and a skilled and devoted management team and employees from the store level on up, all of whom we hope to retain," said Preet S. Puri, managing member and principal owner of S&S. "We're delighted to be entering the Las Vegas market with such a strategically placed and strong portfolio."
"These are some of the finest stores I've ever seen," added Denny Ruben, executive managing director at NRC. "We're extremely pleased to have worked with City Stop in arranging and facilitating this sale."