Stewart’s Shops has purchased the assets of Jolley Associates convenience store chain and two affiliated businesses, S.B. Collins and heating oil company Clarence Brown of St. Albans, Vermont.
The acquisition was completed Dec. 16. Terms of the deal were not disclosed.
The transaction adds 45 Jolley stores to Stewart’s portfolio, including five shops in New York, two in New Hampshire and 38 in Vermont.
With the addition of more than 450 Jolley employees and 45 stores, Stewart’s now employs 5,500 and operates 406 convenience stores in three states.
The Jolley stores gradually will be rebranded as Stewart’s Shops locations.
“This acquisition brings together longtime family businesses that care deeply about the communities in which we operate,” said Chad Kiesow, chief operating officer of Stewart’s Shops. “This opportunity not only allows us to enter new markets, it allows us to compliment Jolley’s brand by introducing products that Stewart’s is very proud of.”
Jolley Associates was founded 50 years ago by brothers Bruce and Robert Jolley. Through the decades, owners Bruce, Robert and Mary Ellen Jolley built a business that became a market leader in Vermont.
Stewart’s Shops is a family- and employee-owned business that was founded in 1945 and has grown to include a chain of convenience stores across upstate New York, Vermont and now, New Hampshire.