Friday, August 17, 2007
Deweese Up For Sale
Source: CSP Daily NewsBy CSD Staff
Super Stop! owner puts all of its properties on the block. Meridian, Miss.-based Deweese Enterprises Inc. (DEI) and its Super Stop! were placed on the sales block by NRC Realty Advisors LLC.
Super Stop! currently owns and operates 45 convenience stores located in the Meridian and Jackson, Miss. and Southern Alabama markets, a gasoline distribution business and an ice company. The majority of the properties are operated pursuant to long-term lease agreements, and five are fee-owned.
For the past 20 years, Super Stop! has been branded ConocoPhillips. In February 2007, the company began re-branding its locations as predominantly Texaco and Chevron.
In addition, Super Stop! operates the FunTime ice production facility, which serves its own units in addition to 700 additional customer accounts. DEI is in a growth-mode, having taken advantage of opportunities created by the aftermath of Hurricane Katrina, and has added three ground-up stores and purchased one other in the last year.
"Super Stop! is proud of its many years of serving its communities in Mississippi and Southern Alabama," said Doug Deweese, president of DEI. "Selling the company has been a tough decision, but we believe it is the right one for our family at this time. We have recently reimaged our store network and the company is well-positioned for additional growth in our key market areas."
NRC has prepared an initial offering summary with respect to this acquisition opportunity, which is available through its customer service center at 800.747.3342, ext 708 or online from the NRC website, www.nrc.com/708.