Stewart's Shops to buy Jolley convenience store chain

ALBANY, N.Y. (NEWS10) -- Stewart's Shops officials announced on Friday that the company has signed an agreement to purchase the assets of the Jolley Associates convenience store chain. The acquisition is expected to be finalized by the end of the year, pending federal approval.

The deal includes the purchase of 45 stores, 38 of which are in Vermont. The chain has two New Hampshire locations, and five across New York in Queensbury, Clifton Park, Lake George, and Plattsburgh.

"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," said Stewart’s Shops president Gary Dake. "One of the primary reasons we were drawn to this deal is because of the quality and the character of Jolley’s employees."

"We are proud of what we have accomplished over the years and we are happy to know that Stewart’s is providing our employees an opportunity to have ownership in the business and will continue to treat them well," said Bruce Jolley, president and co-founder of Jolley Associates.

Stewart's will also acquire Jolley's sister companies S.B. Collins, a gasoline and diesel provider, and Clarence Brown, a heating oil business based in Saint Albans, Vermont. The purchase will add to the 360 Stewart's Shops located throughout New York and Vermont.