Monday, November 3, 2014
Town Star Holdings Acquires 16 TimeSaver Food Stores
Source: Convenience Store DecisionsBy CSD Staff
NRC acts as exclusive financial advisor to the buyer.
Town Star Holding LLC, an affiliate of Junonia Capital LLC of Fort Myers, Fla., has acquired 16 convenience stores from TimeSaver Food Stores Co., based in Port St. Lucie, Fla.
NRC Realty & Capital Advisors LLC acted as exclusive financial advisor to the buyer in connection with the sale and arranged sale-leaseback financing with Spirit Realty Capital Inc.
The acquired assets consist of 13 convenience stores located in Fort Pierce, Okeechobee, Belle Glade, Pahokee, Frostproof and Floridana Beach, 11 of which are co-branded with Subway. Three freestanding Subways located in Port St. Lucie, South Bay and Belle Glade are also included in the transaction.
“Our investment firm is actively engaged in finding well-managed businesses in all sectors and industries, and we have been looking specifically at the convenience store industry for the right acquisition,” said Brian Fox, managing member of Junonia Capital. He continued, “TimeSaver Food Stores met all of our criteria, and we are pleased that we have been able to make this transaction our first in the industry and look forward to more strategic acquisitions in the future.”