Stewart's Shops to Launch Smaller Store Concept
SARATOGA SPRINGS, N.Y. — A new banner with a familiar flair is coming to several markets in upstate New York.
Following its acquisition of Red-Kap, Stewart's Shops will bring a smaller concept to the marketplace. Under the plan, the retailer will convert six of the Red-Kap convenience stores to Stewart's Express. The remaining two will become Stewart's Shops, according to the Times-Union.
The new concept "will be a test to see how these shops perform with a decreased product offering and the omission of hand scooped ice cream," a company spokeswoman said, adding that there were no immediate plans to expand the concept.
Stewart's announced its deal to acquire Saratoga Springs-based Red-Kap in November. The agreement comprised eight c-stores, three car washes, a 75-plus dealer network and a fuel distribution business. The c-stores are in Loudonville, Troy, Claverack, East Greenbush, Saratoga Springs, Schodack, Baldwinsville, and Guilderland, as Convenience Store News previously reported.
Petroleum Equity Group provided analytics, valuation, and other advisory services to Red-Kap in advance of the sale.
Saratoga Springs-based Stewart's Shops operates more than 335 c-stores in across New York and southern Vermont.