Majors Management to Acquire MAPCO
LAWRENCEVILLE, Ga. — Following a relatively quiet 2022, the third notable merger-and-acquisition deal of 2023 in as many months is making headlines.
Majors Management LLC reached an agreement to acquire MAPCO Express Inc. The acquisition is contingent on a separate transaction with MAPCO sites selling to Laval, Quebec-based Alimentation Couche-Tard Inc.
The transaction includes the MAPCO My Rewards loyalty program, the MAPCO brand, and a leading retail fuel and convenience store chain in the southeastern United States in attractive and desirable markets predominantly in Tennessee, Alabama and Georgia, according to Majors.
[Read More: Majors Management Inks Flurry of M&A Deals]
The deal is expected to close in the second half of calendar year 2023, subject to standard regulatory approvals and closing conditions.
"We are thrilled to bring the MAPCO and Majors' teams together," said Ben Smith, Majors' president. "We are honored to maintain and grow the MAPCO brand, and we are excited to serve MAPCO's customers and uphold and build upon the culture of operational excellence at MAPCO."
Franklin, Tenn.-based MAPCO operates more than 300 c-stores across Tennessee, Alabama, Georgia, Arkansas, Kentucky and Mississippi. It is a subsidiary of COPEC, a leading South America-based retail company.
[Read More: MAPCO Debuts 'Store of the Future' Design]
Lawrenceville-based Majors Management is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. Majors and its affiliates supply fuel to more than1,400 c-stores. The company partners with leading petroleum brands including Marathon, BP, Shell, Chevron, Exxon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon.
In the last three years, Majors has completed 18 acquisitions across 14 states. It closed out 2022 with the acquisition Maritime Farms convenience stores, the retail arm of Rockland, Maine-based Maritime Energy. The deal includes 13 c-stores with full delis located in mid-coast Maine and marks Majors' entrance into the state.