Uni-Marts on the Block?

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Uni-Marts on the Block?

04/08/2002
STATE COLLEGE, Pa. -- Uni-Marts Inc., which has been the subject of numerous merger and acquisition rumors, revealed it hired financial advisors to help it explore a possible sale or merger of the company.

Uni-Marts, which runs 301 convenience stores and discount cigarette outlets in five states, said it retained Trefethen & Co. and Morgan Keegan & Co. to help it study its options.

"We believe that this is an appropriate time for Uni-Marts Inc. to review its strategic direction and options. The board of directors engaged Trefethen & Co. and Morgan Keegan to assist us because of their extensive knowledge and experience in the convenience store industry," Henry Sahakian, Uni-Marts' chairman, said in a statement. "The members of our board look forward to working with our financial advisors to explore all alternatives that will potentially unlock or enhance stockholder value."

Uni-Marts sells fuel at 238 stores.