Toledo 76, Inc., which operates PS Food Mart, recently sold eight convenience stores in Toledo, Ohio, to S&G Convenience Stores. Downstream Energy Group (DEG) acted as the exclusive advisor in this sale.
PS Food Mart, founded by the Folk family in the 1920s, has over 40 locations in South Central Michigan and Northern Ohio. Richard Folk, who leads the company, has established a strong reputation for quality in retail.
This sale is a part of PS Food Mart’s plan to optimize its portfolio. By selling these Toledo stores, the company aims to focus on its core markets in Michigan and drive future growth. It’s a strategic move to streamline operations and allocate resources effectively.
DEG, known for its expertise in the downstream energy sector, supported PS Food Mart throughout this process. Their team, which has years of experience, handled everything from valuations to negotiating the sale. “S&G is acquiring quality assets that fit perfectly with their growth plans,” remarked Jeff Traub, a partner at DEG. He praised Richard Folk and his team for building such an exemplary company.
Recent trends in the convenience store sector show a growing demand for quick-service options. A survey found that 60% of consumers prefer convenience stores for their quick shopping needs, signaling a promising outlook for such retail operations.
In summary, this transaction reflects a mix of strategy and opportunity. By focusing on key markets and optimizing their portfolio, PS Food Mart positions itself for a bright future, while S&G gains valuable assets to expand its presence.
