Kent Kwik Convenience Stores to Enter the Carolinas via Acquisition
The deal includes 11 locations, dealer wholesale supply accounts, and a trucking company.
MIDLAND, Texas — The Kent Kwik convenience store brand is expanding its footprint to North Carolina and South Carolina through its acquisition of Seneca, S.C.-based Bountyland Petroleum and Bountyland Food Service assets.
The deal includes 11 company operated, Exxon branded Bountyland stores, as well as both branded and unbranded dealer wholesaler supply accounts, and a trucking company, reported6Park NewsDesk.
"Bountyland has a long history in the North and South Carolina market, with a solid reputation for caring for its employees and dedication to its customers," said Bill Kent, president and owner of Kent Cos. "We are honored to continue his legacy of serving this market and giving back to the community. Bountyland is a large convenience store chain that shares similar values and commitments. We are excited to welcome the Bountyland team to our family."
The transaction will grow the Kent Cos.' portfolio to 72 company owned and operated c-stores in Texas, New Mexico, Oklahoma, Tennessee and the Carolinas. The acquired stores will continue to operate as Bountyland Quick Stop branded stores with ExxonMobil fuel.
Investment bank Trefethen Advisors provided advisory services to Bountyland, with Trefethen CEO Rob Valentine managing the transaction.
"The Bountyland Quick Stop name has been well recognized in Oconee County," said David Land, CEO and owner of Bountyland. "We have provided excellent customer service, convenient locations and great coffee for more than 50 years. Our owners, management and employees are the reason we have been so successful and have been able to create a friendly service environment in what we like to call 'The World's Largest Customer Home.' We chose Kent Cos. to carry forward the same values and service that we have strived to provide.
"We look forward to introducing our clients to The Kent Companies as ownership changes over the next several weeks," he added. "We thank you for the years of friendship and loyalty. Please welcome Kent Cos. to the Carolinas!"
Based in west Texas since 1957, the Kent family of companies includes Kent Kwik c-stores, Mr. Payroll Check Cashing, Rustic Café, Huddle House, Baskin Robbins, Kent Car Wash, Kent Lubrication Centers, and Kent Tire Co.