Tuesday, October 22, 2013
Publix to Sell 14 PIX Locations
Source: NPN Magazine
Publix Super Markets Inc. 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. (10/22/2013)
"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.
The 14 PIX sites are located adjacent to Publix-anchored shopping centers. Publix will retain the PIX name.
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. The company has been named one of FORTUNE’s "100 Best Companies to Work For in America" for 16 consecutive years. In addition, Publix’s dedication to superior quality and customer service is recognized as tops in the grocery business, most recently by an American Customer Satisfaction Index survey. For more information, visit the company’s website, www.publix.com.
Chicago-based NRC Realty & Capital Advisors, LLC served as an advisor during the sales process.