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MERIDIAN, Miss. -- Deweese Enterprises Inc., operator of the 45-store SUPER STOP! convenience chain, is selling its convenience stores through NRC Realty Advisors LLC of Chicago, which will serve as its financial and sale adviser.
"SUPER STOP! is proud of its many years of serving its communities in Mississippi and southern Alabama," company leader Doug Deweese said in a statement. "And selling the company has been a tough decision, but we believe it is the right one for our family at this time. We have recently reimaged our store network and the company is well-positioned for additional growth in our key market areas."
As reported first by CSNews Online in a news flash late yesterday, the SUPER STOP! chain is located in the Meridian and Jackson, Miss., and southern Alabama markets. Of the 45 stores, 37 are located in Mississippi and eight are located in Alabama. During the past year, Deweese has experienced growth and as a result, has built three ground-up stores and purchased another.
The majority of the properties are operated pursuant to long-term lease agreements, and five are fee-owned, the company stated. While the stores have offered ConocoPhillips brand gas for the past 20 years, the company began rebranding its locations as Texaco and Chevron in February 2007.
The SUPER STOP! family business was founded in 1966 by Glen Deweese, Doug Deweese’s father, after working in the convenience industry for several years. Glen Deweese recognized the potential of the then undeveloped convenience store marketplace, the company stated. Doug Deweese assumed leadership of the company after his father's death in September 2001.
"SUPER STOP! represents a great opportunity for operators in the Southeast to acquire a well-established and managed company and take it to the next level of growth," Denny Ruben, managing director and partner of NRC, said in a written statement. "Very few companies of this caliber become available every year, and we expect the interest in SUPER STOP! to be high."
Along with the stores, Deweese is selling a gasoline distribution business and the FunTime ice production facility, which serves its SUPER STOP! units in addition to 700 additional customer accounts.
NRC prepared an initial offering summary for the sale, which is available through its customer service center at (800) 747-3342 ext. 708 or online from the NRC Web site at www.nrc.com/708.