Stewart's Shops to Divest Five C-stores
SARATOGA SPRINGS, N.Y. — Stewart's Shops is selling five convenience stores in New York and Vermont following its recent acquisition of the Jolley Stores chain.
The retailer is divesting the locations as part of an agreement with the Federal Trade Commission (FTC) after it completed its deal for the assets of Jolley Associates LLC and S.B. Collins Inc. in late 2024.
The deal included 45 Jolley convenience stores — including five sites in New York, two in New Hampshire and 38 in Vermont — plus a wholesale dealer and the St. Albans, Vt.-based Clarence Brown heating oil business, as Convenience Store News previously reported.
The bulk of the acquired c-stores are located in new territory for Stewart's Shops, but there are a few areas of overlap, company spokesperson Robin Cooper told the Times Union.
"It's not our first choice to sell," Cooper said. "It's just how the process works."
While the acquisition price was not disclosed, the FTC investigates deals exceeding $126.4 million. The FTC identified five locations of concern for lack of competition — three Jolley locations in Queensbury and Plattsburgh in New York, and Manchester, Vt., as well as two Stewart's Shops on Route 9 in Queensbury and on Lake Street in Rouses Point, N.Y., the news outlet reported.
According to Cooper, the convenience retailer has been marketing the properties to people in the industry and is now in the second phase of the vetting process. "We're getting calls all the time," Cooper said. "In the industry, the word is pretty well out there."
Some potential buyers are interested in all five c-stores and some are interested in just a few c-stores. Stewart's Shops is open to selling the locations individually or as a group, and it aims to have a deal or deals line up by May, Copper added.
The remaining Jolley Stores locations will be rebranded to the Stewart's Shops banner.
Saratoga Springs-based Stewart's Shops more than 350 c-stores across New York and southern Vermont.
