VPS Convenience Store Group Buys Virginia Oil Company

VPS Convenience Store Group, a Wilmington, North Carolina-based affiliate of Sun Capital Partners, has acquired Virginia Oil Company, a fuel wholesaler and operator of 17 convenience stores in western Virginia, primarily in Charlottesville. Terms of the deal weren’t disclosed.

PRESS RELEASE:

Sun Capital Partners, Inc, a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that its affiliated portfolio company VPS Convenience Store Group (“VPS”) has acquired Virginia Oil Company, a fuel wholesaler and operator of 17 convenience stores in western Virginia.  Terms of the transaction were not disclosed.  With this acquisition, VPS now operates 419 stores in seven states (Indiana, Michigan, Ohio, North Carolina, South Carolina, Tennessee and Virginia) in the Southeast, Mid-Atlantic and Midwest.

Headquartered in Wilmington, North Carolina, VPS operates convenience stores under the Scotchman, Village Pantry, Li’l Cricket, Young’s and Next Door Stores brands, selling premium fuel brands such as BP, Exxon, Shell, Valero, Marathon, and its own proprietary brand, Carolina Petro. The chain is ranked 26th on the Convenience Store News Top 100 List, and seventh on the Grant Thornton North Carolina 100® list of top private companies.

The 17 stores acquired by VPS are primarily located in and around Charlottesville, Virginia. Virginia Oil Company currently operates the stores under various brand names, offering fuel, groceries, soft drinks and fast food. Some stores feature partnerships with such businesses as McDonald’s, Blimpie and Dairy Queen. Virginia Oil Company was founded as a family owned business in 1967.

This latest add-on acquisition is another step in building the VPS presence in the Mid-Atlantic region.  In January 2011, VPS acquired 22 stores in northeastern Tennessee and southwestern Virginia formerly operated by Appco Convenience Stores. VPS is in the process of reopening those stores as Scotchman Convenience Stores.

“Virginia Oil Company is a great addition to the VPS group of stores,” said Jared Wien, Vice President at Sun Capital Partners. “Through this transaction, VPS is able to successfully expand its presence in the region as it continues to build a national convenience store platform.”

“We are excited to expand our Virginia presence into the Charlottesville area by acquiring such modern and well-maintained store facilities,” said VPS Chairman and CEO Jeff Turpin. “Virginia Oil, which is well-known for its excellent customer service, is a great fit with our current brands. Customers can expect a seamless transition with no interruption in service as we integrate these locations into our VPS family of stores.”

About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 265 companies worldwide with combined sales in excess of $40 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.

About VPS Convenience Store Group

The VPS Convenience Store Group, headquartered in Wilmington, NC, operates under five brand names including Scotchman, Village Pantry, Lil Cricket, Young’s and Next Door Stores.  VPS offers premium fuel brands such as Exxon, Mobil, Marathon, Valero, BP, Shell and its own proprietary brand, Carolina Petro. The VPS group is ranked 26th on the Convenience Store News Top 100 List and seventh on the Grant Thornton North Carolina 100® list of top private companies. The group has more than 3,200 employees.