Dive Brief:
- Fischer’s Neighborhood Market, which operates over 30 convenience stores in south-central Texas, has agreed to acquire regional competitor Mini Mart for an undisclosed amount, according to an announcement from Mini Mart.
- The deal includes Mini Mart’s 17 convenience stores in the Hill Country region of Texas. Eleven are located in Kerrville, about 65 miles northwest of downtown San Antonio, while the other six locations are scattered across the nearby areas of Bandera, Center Point, Comfort, Fredericksburg and Ingram.
- Mini Mart’s owners are selling the company after five decades in business, continuing the surge in family owned convenience retailers leaving the industry as operating costs plague small and mid-size retailers.
Dive Insight:
Unlike top c-store players like 7-Eleven and Alimentation Couche-Tard, many small and mid-size operators lack the resources to effectively tackle industry challenges such as inflation, labor shortages and the shift to electric vehicles. This makes it extremely difficult to operate in today’s environment, experts have said. Casey’s General Stores, for example, has openly said it targets small operators in M&A due to these factors.
Mini Mart’s owners, siblings Sylvia Fritz Dobbs and David Fritz, did not share why they decided to sell the company founded by their grandfather, Jr. Fritz. They only noted in the announcement that the decision wasn’t easy.
“We love the Hill Country. We grew up here, our families live here, and we’re staying here,” said Sylvia and David. “We look forward to continuing to give back to our community in any way we can.”
New Braunfels-based Fischer’s Neighborhood Market was founded in 1975. Like Mini Mart, the company operates c-stores in Texas’ Hill Country, with most of its locations in New Braunfels and San Antonio. The retailer runs 23 Fischer’s c-stores and has another in development, as well as nine locations under the Pit Stop Food Mart banner. Many of its locations offer foodservice programs via Chester’s Chicken or Hunt Brothers Pizza, while some have an adjacent McDonald’s restaurant onsite.
