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MILAN, Ohio — Mickey Mart Foodstores finalized a generation transition ownership of its retail petroleum and quick-service restaurant (QSR) operations.
In the move, President and CEO Dan Coles assumed ownership from family patriarch and founder Mick Coles. In conjunction with the transaction, Dan Coles has acquired all of the Mickey Mart Foodstores and affiliated assets. Mickey Mart currently operates 35 locations throughout northern Ohio.
"We are proud of the legacy that has been established over the last four decades and will continue to maintain Mickey Mart Foodstores' core values of providing exceptional service to our customers," said Dan Coles. "We are well positioned and look forward to expanding Mickey Mart Foodstores with the introduction of new offerings, partnerships and strategic acquisitions through the implementation of our comprehensive corporate growth strategy.
"Mickey Mart is very fortunate to have a highly trained team, both at the retail and corporate level, to consistently deliver best-in-class performance," he added.
Open Prairie Energy served as lead advisor to the Coles family on the transaction. In addition, it assisted Mickey Mart in securing a credit facility with The PrivateBank to fund the buyout and provide a platform to accelerate expansion.
"We appreciate the opportunity to work with an extraordinary organization with strong leadership and enormous potential for future success. We congratulate the Coles family and are excited to be part of Mickey Mart Foodstores' next phase of development," said Steve Griffin, managing director, Open Prairie Energy.
Mickey Mart Foodstores is a family-owned retail gas and convenience store and QSR based in Milan, Ohio. Mickey Mart sells BP, Shell and Marathon branded fuel and its QSR business portfolio is comprised of leading franchise brands including Taco Bell, Dunkin' Donuts and Subway.
Open Prairie Energy is a premier retail energy consulting firm that provides value-added services to downstream energy companies including retail gas and convenience store operators, wholesale distributors, and major oil. The firm has offices in Chicago and Effingham, Ill.