Tuesday, October 22, 2013
Circle K Purchases PIX Stores
Source: Convenience Store DecisionsBy CSD Staff
Publix Super Markets Inc. has announced its decision to sell PIX, the fuel/c-store concept it began testing in 2001.
Circle K Stores Inc., a wholly owned subsidiary of Alimentation Couche-Tard Inc., will purchase 13 sites of which 11 are located in Florida and two in Georgia, and Max Arnold & Sons LLC, a family-owned company located in Hopkinsville, Ky. that has been in operation for more than 60 years, will purchase the site located in Tennessee.
“We consistently evaluate our business, including the products and services we choose to offer our customers,” said Publix CEO Ed Crenshaw. “The sale of PIX locations gives us the ability to remain passionately focused on our core business, our customers and the products and services we offer within our grocery retail environment.”
The company will help the approximately 120 PIX associates find employment within Publix comparable to their current positions.
Publix is privately owned and operated by its 160,500 employees, with 2012 sales of $27.5 billion. Currently Publix has 1,075 stores in Florida, Georgia, South Carolina, Alabama and Tennessee. NRC Realty & Capital Advisors LLC served as financial advisor to Publix in the transaction.