Pops Mart Fuels Picks Up Another Five C-stores
COLUMBIA, S.C. — Pops Mart Fuels LLC is expanding its footprint with the acquisition of Fuel Service — DJ's Mart.
As part of the transaction, Pops Mart Fuels will pick up the Chippewa Falls, Wis.-based chain of five company-operated convenience stores, wholesale fuels distribution and transportation business.
[Read more: Pops Mart Stores Sold as Part of Winnsboro Petroleum's Exit From Industry]
Fuel Service — DJ's Mart began in 1971 when Jack Salden purchased the business — which at the time was a small fuel wholesale business — followed by the building of the first DJ's convenience store in 1981. In 1990, Jack's son John Salden joined the business and helped him to continue to grow the business until 2002, when John and Lisa Salden purchased the business outright and expanded the company into a chain of five c-stores, and wholesale fuel and dealer supply business and transportation.
Over the years, John, who has served as the chairman of the Wisconsin Fuel & Retail Association, stated that he has enjoyed the many wonderful relationships and friends with his involvement with the owning of convenience stores and the fuel distribution business, but felt it was time to step away and pursue other family interests.
"We accomplished our goal of exiting the retail and wholesale business and the transaction was a win-win for Fuel Service — DJ's Mart and Pops Mart Fuels and all the employees involved," John and Lisa shared in a statement.
American Business Brokers & Advisors provided merger and acquisition advisory services to both DJ's and Pops Mart, which included valuation advisory, marketing the business through a confidential process and negotiation of the transaction.
"It is exciting to grow our Wisconsin convenience stores and wholesale fuel business with the addition of DJ's," stated Don Draughon, CEO of Pops Mart.
Based in Columbia, Pops Mart Fuels operates more than 42 stores in the South Carolina and North Carolina markets, along with seven stores in Wisconsin with the addition of the DJ's acquisitions.
The convenience store retailer has been active in the merger-and-acquisition field over the past 12 months. In early January, Pops Mart expanded its network through a deal for assets from North Carolina-based Mallard Oil Co. That transaction closely followed its acquisition of 14 convenience stores from Anderson Oil Co. Inc. in South Carolina. Then, earlier this month, it closed on a deal for Scully Oil, which included two travel centers in Wisconsin.