Mapco Focusing on Acquisitions

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Mapco Focusing on Acquisitions

03/12/2002
NASHVILLE, Tenn. -- Mapco Express Inc. has hired investment bankers Morgan Keegan & Co. Inc. to assist the convenience store operator with its acquisition strategy.

With a network of 236 stores primarily in Tennessee and Virginia, Mapco expects to expand over the next several years through acquisitions, beginning in the Southeast, according to the Nashville Business Journal.

"The convenience store industry remains highly fragmented with excellent opportunities for consolidation," said James Alligood, president and CEO of Mapco. "We have engaged Morgan Keegan in an effort to expedite our growth. Together, we will initially seek acquisitions throughout the Southeast that meet our criteria including sufficient market density, superior quality assets and history of profitability."

Morgan Keegan is a Memphis, Tenn.-based investment banking firm that specializes in the convenience store and retail petroleum industry.