Nouria Inks M&A Deal for Enmarket
WORCESTER, Mass. — Make room for another consolidation move in the industry.
Nouria signed a definitive agreement to acquire Enmarket from its parent company, Colonial Group. This acquisition marks a significant milestone in Nouria's strategic expansion, positioning the company to serve new markets.
The acquisition of more than 132 Enmarket stores and nearly 26 Enmarket car washes will extend Nouria's reach into the Southeast, strengthening its retail presence and expanding its footprint beyond its current base in the Northeast.
Worcester-based Nouria operates approximately 170 convenience stores in the Northeast. Based in Savannah, Enmarket operates c-stores in Georgia, South Carolina and North Carolina.
"We are thrilled to welcome Enmarket into the Nouria family," said Tony El-Nemr, Founder and CEO of Nouria. "This acquisition reflects our shared dedication to enhancing customer experiences and allows us to bring our award-winning service to new communities in the Southeast. We are confident this will be a seamless integration that benefits both our new customers and the Enmarket team."
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According to Nouria, the company is committed to ensuring a smooth transition for both Enmarket employees and customers. All existing Enmarket stores will remain operational, and Nouria plans to build on Enmarket's strong foundation by leveraging its own resources, technology and expertise to elevate the overall customer experience.
"Enmarket has been a part of the Colonial Group family for over 60 years. I am extremely proud of what that team has accomplished, especially in the last 10 years that I've been directly involved. The retail convenience industry is more dynamic than ever, and I have every confidence the Enmarket team will reach new heights given the laser focus Tony and the Nouria team bring on growth and being the best in class in their industry," said Christian Demere, president and CEO of Colonial Group.
"This transaction represents a positive step forward for both organizations, allowing each to focus on its strengths while ensuring Enmarket continues to thrive under Nouria's leadership," Demere added.
The transaction is subject to customary regulatory approvals and closing conditions.
Wells Fargo served as exclusive financial advisor and King & Spalding served as legal advisor to Nouria. BofA Securities served as financial advisor and Williams Mullen served as legal advisor to Colonial Group.