USA: Stewart’s shops to expand fuel business with Red-Kap acquisition

Stewart’s will acquire eight convenience stores, three car washes, a 75+ dealer network and their fuel distribution business.

Stewart’s Shops is expanding the fuel distribution business with the acquisition of Red-Kap, a locally owned family run business.

Stewart’s will acquire eight convenience stores, three car washes, a 75+ dealer network and their fuel distribution business. Stewart’s will maintain the branding of the Mobil, Citgo, and Sunoco stations and will convert a few of the Red-Kap locations into Stewart’s Shops.

“From our humble beginnings in one gas station, Red-Kap has grown to be a multi-site convenience store and car wash operator as well as one of the largest gasoline suppliers in upstate New York,” said Red-Kap principal Jon Kaplan.

Stewart’s Shops president Gary Dake said, “The acquisition will add eight corporately run locations and a significant addition of gasoline supply and distribution to local stations.  Stewart’s prides itself on vertical integration and support.  In the age of Covid, with an ever-changing business climate, we look forward to extending this support to the Distributor/Dealer network.”