PLATTSBURGH — 7-Eleven plans to sell 30 Wilson Farms stores in upstate New York, including the five that remain in the North Country.
The stores in Keeseville, Lake Placid, Saranac Lake, West Chazy and Wilmington are among the 188 Wilson Farms stores that 7-Eleven acquired in 2011.
The company is working with Chicago-based NRC Realty and Capital Advisors to conduct the sale. A story by Business First posted on the NRC website states that the sale will be conducted by sealed-bid process, with bids due by Oct. 18.
In that article, 7-Eleven Vice President of Mergers and Acquisitions Robbie Radant said that in any acquisition of an entire chain, there will inevitably be some stores that don’t fit with a buyer’s long-term strategic plans.
“Such is the case with these 30 properties,” he said. “While not right for our current operations, we believe they will provide great opportunities for the right buyers, as they did for Wilson Farms over the years.”
OPEN WHILE MARKETED
Dennis Ruben, NRC executive managing director, said there has already been some interest in the sites.
“We think that this sale provides some great opportunities for others already operating in these geographic areas, as well as for those looking to enter the market,” he said.
7-Eleven closed Wilson Farms stores in the towns of Peru and Schuyler Falls at the end of April. At that time, Margaret Chabris of the 7-Eleven Corporate Communications Department said that most of those employees would be able to work at the other area stores.
Chabris told the Press-Republican on Tuesday that the stores to remain open as they are marketed.
“We plan for these stores to be ongoing businesses,” she said.
The company will also offer employees the chance to take a job at 7-Eleven or Wilson Farms stores in western New York.
According to the Wilson Farms website, the company was formed as a division of Tops supermarkets in 1969. The chain was sold to the Ahold corporation in 1991.
Wilson Farms was later acquired by a partnership between the Buffalo-based Nanula family and the New York City-based equity firm of Bruckman, Rosser, Sherrill and Co. The majority of the Wilson Farms stores are in central and western New York.
Email Dan Heath:
dheath@pressrepublican.com.
