Stewart's Shops has announced they have spent over $9 million acquiring five New York-based convenience stores.
2024 was a great year for the folks who own and operate one of New York's favorite convenience stores! Stewarts Shops not only had a great year serving some of the best coffee and snacks anywhere, but they also announced that they would be expanding and buying one of its competitors.
Back in September, we told you that Stewart's Shops had entered an agreement to purchase the assets of the Jolley Associates convenience store chain. At the time of the announcement, the purchase terms were kept confidential but did include 45 Jolley Stores, 38 of which are in Vermont, two in New Hampshire, and five in New York including stores in Queensbury, Clifton Park, Lake George, and Plattsburgh, NY.
Stewart's Shops President Gary Dake acknowledged the purchase in September saying, "We are thrilled to have this opportunity to acquire a company with such an impressive reputation in a market that we've been watching for many years. One of the primary reasons we were drawn to this deal is because of the quality and the character of Jolley's employees." Stewart's hoped to have the purchase finalized by the end of the year.
According to Saratoga Today, the 45-store deal has officially been finalized and shows that Stewart's paid just under $10 million for the five New York stores. A report from the Albany Business Review reveals that Stewart's paid just over $9.6 million for the following Jolley stores located in the Capital Region (Albany, NY area),
Stewart's Public Relations Manager Robin Cooper told Saratoga Today that the Jolley stores will remain "Jolley" for now, but over the next few years, they will be rebranded as Stewart's Shops.