Tuesday, October 22, 2013
Publix Exits Convenience Channel
Source: Convenience Store News
LAKELAND, Fla. -- Publix Super Markets Inc. announced its decision today to sell PIX, the fuel and convenience store concept it began testing in 2001.
Circle K Stores Inc., a wholly owned subsidiary of Alimentation Couche-Tard Inc., will purchase 13 of Publix's 14 PIX sites, 11 of which are located in Florida and two in Georgia. Max Arnold & Sons LLC, a family-owned company in Hopkinsville, Ky., will purchase the PIX site 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 [our] 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 said it will help the approximately 120 PIX associates find employment within Publix, comparable to their current positions. Currently, Publix has 1,075 stores in Florida, Georgia, South Carolina, Alabama and Tennessee. Publix will retain the PIX name.
The 14 PIX sites are located adjacent to Publix-anchored shopping centers in Alpharetta, Ga.; Casselberry, Fla.; Clermont, Fla.; Davenport, Fla.; Deltona, Fla.; Franklin, Tenn.; Lakeland, Fla.; Loxahatchee, Fla.; Perry, Ga.; Poinciana, Fla.; Rockledge, Fla.; Seminole, Fla.; and Winter Haven, Fla.
NRC Realty & Capital Advisors LLC served as financial advisor to Publix for this transaction.