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TEMPLE, Texas -- Fikes Wholesale Inc., parent company of the 78-unit CEFCO Convenience Store chain headquartered here, completed its purchase of Deweese Enterprises Inc., operator of 45 Superstop! convenience stores across Mississippi and Alabama, Fikes stated.
As reported in a CSNews Online news flash yesterday, the purchase of the Meridian, Miss.-based chain also includes a fuel distributorship, a fleet fueling card under the name of Fast Fuel and Funtime Ice, according to the company. Of the 45 convenience stores, 37 are in Mississippi and eight are located in Alabama.
"The similarities between the two companies are quite remarkable," Fikes CEO James Fikes said in a statement. Both are family-owned companies that are in the second generation of leadership, the company stated. Other similarities between both chains are a fleet card program and an ice company. Fikes Wholesale's fuel card is called Fleet Fuel and its ice division is called Sunbelt Ice, according to the company.
"We are extremely excited about this acquisition and look forward to the synergies that will be created as the best practices of both companies are shared with each other," Fikes added. "Both companies are focused on being the 'best in class' in their respective marketplaces and the future certainly looks bright."
On Aug. 17, CSNews Online reported that Deweese Enterprises enlisted NRC Realty Advisors LLC of Chicago to serve as its financial and sale adviser.
"Superstop! is proud of its many years of serving its communities in Mississippi and southern Alabama," company leader Doug Deweese said at the time. "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."
The Superstop! family business was founded in 1966 by Glen Deweese, Doug Deweese's father, after working in the convenience industry for several years, CSNews Online reported in mid-August. Glen Deweese recognized the potential of the then-undeveloped convenience store marketplace. Doug Deweese assumed leadership of the company after his father's death in September 2001.