Dive Brief:
- New England convenience retailer Nouria Energy has agreed to acquire Southeastern operator Enmarket from Savanna, Georgia-based Colonial Group for an undisclosed amount, the companies announced on Thursday.
- The deal includes Enmarket’s entire network of 132 convenience stores and 26 car washes across Georgia, South Carolina and North Carolina. The companies did not share an estimated closing date for the transaction, which is subject to regulatory approval.
- Nouria, which operates about 170 convenience stores and 61 car washes across New England, will nearly double its footprint and reach three new states — and an entirely new part of the country — once the deal closes.
Dive Insight:
It’s unclear if Nouria intends to rebrand Enmarket’s locations to its own banner, but for now all Enmarket stores will remain operational, according to the announcement. Nouria said it’s committed to ensuring a “smooth transition” for Enmarket’s employees, which includes about 1,300 people, according to Enmarket’s LinkedIn page.
Once the deal closes, Worcester, Massachusetts-based Nouria will plant its flag outside New England for the first time since the company was founded in 1989.
“This acquisition reflects our shared dedication to enhancing customer experiences and allows us to bring our award-winning service to new communities in the Southeast,” Tony El-Nemr, founder and CEO of Nouria, said in the announcement. “We are confident this will be a seamless integration that benefits both our new customers and the Enmarket team.”
For Enmarket, which was founded in 1964, the deal is an opportunity to bring its retail stores to “new heights” in today’s “dynamic” convenience retailing industry, said Christian Demere, president and CEO of Colonial Group.
“This transaction represents a positive step forward for both organizations, allowing each to focus on its strengths while ensuring Enmarket continues to thrive under Nouria's leadership,” Demere said in the announcement.
Both companies have placed fresh food at the forefront of their operations over the years, and the deal will likely bring a variety of new offerings to Nouria. The New England retailer offers a variety of sandwiches, subs, wraps, pizza and breakfast options, while Enmarket’s proprietary Eatery and Eatery Express QSRs specialize in chicken, fish, hot sides and desserts.
The retailers both revamped their mobile apps over the past year. Nouria did not disclose what it intends to do with Enmarket’s mobile program and loyalty platform.