Refuel set to acquire Eagle Enterprises
The retail firm aims to take over 13 locations of the convenience store chain located in the Raleigh-Durham market.
Refuel Operating has entered into an agreement to acquire the assets of Eagles Enterprise, a convenience store chain owned by founders Dilip Gandhi and Manish Gandhi. The transaction includes 13 locations in the Raleigh-Durham market in North Carolina.
Gandhi & Associates, the predecessor of Eagles, began in 1990 with the launch of four locations in North Carolina. Eagles Gas debuted in Raleigh in 1994, and has grown to include locations in Chapel Hill, Morrisville, Stokesdale, Holly Springs, Hillsborough, Lemon Springs, Apex, Cary and multiple locations in Raleigh.
“We are extremely excited to expand our existing footprint in the attractive Raleigh-Durham market. Dilip and Manish have built a great business over the years with high-quality locations that fit nicely within the Refuel portfolio. We are excited to welcome the Eagles team to the Refuel family,” said Mark Jordan, CEO of Refuel.
Both firms did not disclose the financial details of the deal, which is expected by the parties to close in the fourth quarter, subject to customary closing conditions including regulatory approval.
This will be Refuel’s 14th acquisition since partnering with private equity investment firm First Reserve in May of 2019. The transaction will bring its total company-operated store count to 208 locations across Texas, Mississippi, Arkansas, South Carolina and North Carolina.
