VPS Convenience Store Group Expands to Eight States
WILMINGTON, N.C. -- VPS Convenience Store Group acquired seven Colonial Pantry convenience stores in central Illinois from Champaign, Ill.-based Miller Oil Co. that it will operate as Village Pantry stores. With this acquisition, VPS now spans 425 stores in eight states.
“We are very excited about the addition of the Colonial Pantry stores to the VPS group,” said VPS Chairman and CEO Jeff Turpin. “These sites align well with our brand philosophy of being convenient neighborhood stores with fast and friendly service, fresh food offerings and coffee. Customers can expect a seamless transition with no interruption in service as we integrate these locations into our VPS family of stores.”
This transaction marks the third time in the past year that VPS has added stores to its roster. The company acquired Virginia Oil Co., a group of 17 c-stores in western Virginia, last April, as well as 22 former APPCO stores in northeastern Tennessee and southwestern Virginia last January.
This latest transaction was facilitated by American Business Brokers and WJF Services Inc.
The sale is the result of a strategic decision by Miller Oil Co. President John Miller, according to American Business Brokers' President Terry Monroe. "Miller Oil has successfully operated these outstanding stores for a number of years," Monroe said. "Mr. Miller has reached a point in his successful business career where he is ready to downsize and pursue other business interests."
The seven Colonial Pantry stores involved in the deal are all in central Illinois in the following cities: Champaign, Georgetown, Paxton, Stonington, Ogden, Danville and Oakwood.
WJF Services Inc.'s President Bill Fecht noted that "this transaction will add the ConocoPhillips brand to [VPS'] list of other [fuel] brands and now puts them in the state of Illinois with a definite foothold in the Midwest." The other states in which VPS operates are: Indiana, Michigan, Ohio, North Carolina, South Carolina, Tennessee and Virginia.
The retailer currently has six store brands including Scotchman, Village Pantry, Li'l Cricket, Young’s, Next Door Stores and Everyday Shops. Headquartered in Wilmington, N.C., VPS is an affiliated portfolio company of private investment firm, Sun Capital Partners Inc.