Seneca’s Bountyland Petroleum and Food Service gets its fuel from Texas, but now its orders will come from the Lone Star State, too.
Kent Kwik convenience stores, an entity of The Kent Companies, has entered into an agreement to acquire Bountyland’s assets including its 11 Exxon-branded stores, wholesale supply accounts and transportation company, according to a news release.
The acquisition will expand The Kent Companies’ portfolio to 72 company-owned and operated convenience stores throughout Texas, New Mexico, Oklahoma, Tennessee and, with this acquisition, the Carolinas.
“Bountyland has a long history serving the North and South Carolina market, with a strong reputation of taking care of their employees and dedication to their customers,” Bill Kent, owner and chairman of the Kent Companies, said in the news release. “We are honored to continue their legacy of serving this market and giving back to the community. Bountyland is a great convenience store chain that shares similar values and commitment. We are excited to welcome the Bountyland team into our family.”
Branding will remain the same once the acquisition goes into effect, as will each location’s leadership and service team, according to Kent.
“The Bountyland Quick Stop name has been well recognized in Oconee County,” David Land, owner and CEO of Bountyland, said in the release. “We have delivered great customer service, convenient locations and great coffee for more than 50 years.
The investment bank Trefethen Advisors, based in Scottsdale, Ariz., provided advisory services to the company, and Rob Valentine, managing director of Trefethen Advisors, managed the transaction.