Dive Brief:
- Convenience store retailer and fuel distributor Majors Management has acquired all 13 Maritime Farms c-stores from full-service energy company Maritime Energy, according to a Wednesday announcement.
- The acquisition expands Majors into Maine, the company’s 18th state of operation, according to the announcement.
- This marks the fourth acquisition since early November for Majors, which acquired a total of 30 c-stores across four U.S. states during that span.
Dive Insight:
At a time when small-scale acquisitions have come to define M&A activity in c-stores, Majors has established itself as one of the most active buyers in the industry.
On Nov. 6, Majors announced it had acquired six c-stores in Baldwin County, Alabama, from Bay Shores Oil. Two days later, Majors revealed it had purchased 10 Chevron-branded sites in East Texas from Morgan Oil Company. And on Nov. 9, Majors announced its acquisition of a BP-branded truckstop in Gilman, Illinois, representing its first foray into the Prairie State.
These moves combined with its acquisition of Maritime underscore Majors’ broader growth plans. According to the announcement, Majors has now completed 17 acquisitions across 13 U.S. states over the past three years.
“With the acquisition of the Maritime sites, Majors now operates across the East Coast of the U.S. from Florida to Maine,” Majors President Ben Smith said in the announcement.
Each store included in the acquisition has a “full deli,” according to the announcement. Maritime will continue delivering motor fuels, fuel oils and propane to the stores, said Susan Ware Page, president of Maritime, in the announcement.
Besides operating its formerly owned c-stores and distributing fuel, Rockland, Maine-based Maritime Energy specializes in heating and cooling systems and service, including a variety of water heaters. The family-owned company was founded in 1939.
Lawrenceville, Georgia-based Majors and its affiliates supply fuel to over 1,300 c-stores in the U.S. The company partners with fuel brands such as BP, Shell, Chevron, Exxon, Marathon, Citgo, Mobil, Texaco, Valero, Phillips, Sunoco, 76, and Alon.
