Smoker Friendly buys 30 Collett Enterprise stores

0

Photo courtesy of Smoker Friendly

BOULDER, Colo. — The Cigarette Store LLC, doing business as Smoker Friendly, acquired Collett Enterprises Inc.’s 30 tobacco stores in Indiana and Kentucky. The stores had long held a license from Smoker Friendly International and therefore already display the Smoker Friendly name and logo, the tobacco and convenience store chain said.

  • The cigarette store group is No. 41 on CSP2022 Top 202 ranking of US convenience store chains by number of company-owned stores.

“It’s been a tough 28 years in the retail tobacco industry, and I couldn’t have done it without the support of my wonderful staff,” said Darren Collett, President and Owner of Collett Enterprises. “I have been friends with the Gallaghers for many years; when i decided to sell i knew that The Cigarette Store LLC was the right buyer. I know my employees will be in good hands. It’s a big industry, and I will miss the many friends I’ve made along the way.

Smoker Friendly CEO Terry Gallagher Jr. highlighted Collett’s friendship and advocacy for the tobacco store community, wishing him the best in his next phase.

It was the sixth acquisition for Boulder, Colo.-based Smoker Friendly in the past two years, bringing its store count to 290, operating in 13 states. The company is Smoker Friendly International’s largest licensee and operates a mix of tobacco shops, cigar lounges, liquor stores and refueling outlets under the Smoker Friendly, Tobacco Depot, Smoke ‘N Go banners. , Havana Manor and Gasamat.

Its last acquisition was in August, when it bought 79 Tobacco Supermarkets, Forrest City, Ark.

Investment firm Main Street Capital Corp. invested $51.7 million in Smoker Friendly, taking a minority stake in the business, in January 2021. The investor provided the chain with a revolving line of credit to meet its working capital needs and l to help grow its acquisitions. strategy.

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all our content. Register here.

Want breaking news at your fingertips?

Get the convenience industry intelligence you need today. Sign up to receive text messages from CSP on important news and information for your brand.

Share.

Comments are closed.