Coborn’s sells 14 fuel and c-stores to Holiday Stationstores
The 102-year-old grocery retailer owns 77 locations across six states and had entered the convenience store sector in 1986.
Minnesota-based Coborn’s has sold its 14 Holiday franchised fuel and convenience stores to Holiday Stationstores, including one developmental site.
Coborn’s is a 102-year-old, employee-owned grocery retailer with nearly 10,000 employees and 77 grocery stores across six states. These include Minnesota, North Dakota, South Dakota, Wisconsin, Michigan and Illinois, all operating under the Coborn’s, Cash Wise Foods, Hornbacher’s, Tadych’s Marketplace Foods and Sullivan’s Foods banners.
Coborn’s was founded in 1921 by Chester A. Coborn who opened a one-room produce store in Sauk Rapids, Minnesota. Chris Coborn, a fourth-generation family member, is the current CEO and Chairman of the Board and his daughter Emily Coborn Wright, Vice President of Retail Support Services, and his son Peter Coborn, Director of Liquor Operations, are fifth-generation family members in leadership roles.
“This is part of Coborn’s overall strategy to focus our growth efforts on the grocery store market. The transaction provides continuity to our store employees and customers, as the stores will remain Holiday branded and continue to accept the Coborn’s MORE Rewards program,” said Chris Coborn.
"Esto forma parte de la estrategia de Coborn de centrar nuestros esfuerzos de crecimiento en el mercado de las tiendas de alimentación. La transacción ofrece continuidad a nuestros empleados y clientes, ya que las tiendas seguirán llevando la marca Holiday y seguirán aceptando el programa MORE Rewards de Coborn's", declaró Chris Coborn.
The firm entered the convenience store business in 1986 with its Little Dukes branded convenience stores and converted 14 locations to Holiday franchised stores in 2006. Coborn’s operates several fuel, liquor and pharmacy locations as well. To support its 200 various retail business units, the firm also operates its own central bakery, dry cleaning facility and grocery distribution center.
Matrix provided merger and acquisition advisory services to Coborn’s, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale.
