Family Express to Expand Indiana Footprint With Acquisition of Freedom Oil
VALPARAISO, Ind. — Family Express is adding six Freedom Oil LLC convenience stores to its Indiana network.
The Cobb Family founded Warsaw-based Freedom Oil in July 2002 after acquiring four stores from Gast Fuel and Oil Inc. Today, the family-operated company's six Freedom Express stores are in Kosciusko and Marshall counties.
"We are flattered that the Cobb family chose Family Express. The compatible cultures of the two companies will help immensely in the transition process," said Alex Olympidis, president of operations for Family Express.
According to Olympidis, Family Express will roll out NCR/Optic technology to the forecourt at the Freedom Oil locations once the deal closes.
"Family Express, in collaboration with NCR, has already delivered advanced technologies to the Family Express network. These technologies include two first-time innovations in the c-store space. One is the ability to order food at the pump and pay concurrent with the gasoline purchase. This removes unnecessary friction by ensuring that the customer does not go through the payment process twice," he explained.
"The other is TransArmor/Fiserv security at the pump, which eliminates the possibility of a major security breach. TransArmor fragments access to the entire deck rendering a breach undesirable to a potential hacker," Olympidis added.
The Freedom Oil transaction was shepherded by Chicago-based NRC Realty & Capital Advisors LLC and it is expected to close by late April.
In addition to the Freedom Oil deal, Family Express is acquiring a three-acre site in McCordsville, a suburb of Indianapolis. The site been redeveloped to Family Express standards and it features the retailer's proprietary Cravin's To-Order food offering.
Following in line with its strategy to feature a car wash at half its locations, Family Express is adding a car wash and pet wash to the site.
Valparaiso-based Family Express operates 75 c-stores throughout northwest and central Indiana.