INDUSTRY ROUNDUP
VERC Enterprises Exits Convenience Channel in Three-Way Sale Nouria Energy, Energy North Group and Global Partners split the chain’s 32 c-stores THE CONVENIENCE CHANNEL has one less player: Duxbury, Mass.-based VERC Enterprises sold its 32 convenience stores to multiple industry buyers in late March.
The buyers included Lawrence, Mass.based Energy North Group, Waltham, Mass.-based Global Partners LP, and Worcester, Mass.-based Nouria Energy Corp. VERC Enterprises was founded in 1977 with a single car wash in Marshfield, Mass. The company grew to encompass a convenience store network throughout Massachusetts and New Hampshire. All of the company’s stores operated under the VERC brand name and sold gasoline under leading fuel brands such as Gulf, Mobil, Irving and Shell. “While the decision to sell was a difficult one, we know that the stores will be operated by organizations that share the same values, purpose and commitment to service,” said CEO Leo Vercollone. “We sincerely thank all of our wonderful customers we have had the pleasure of serving throughout our years in business. And we extend our deepest thanks and appreciation to our associates who have been the engine and backbone of our company. We are so very thankful for their hard work and dedication.” The Vercollone family will retain owner-
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ship of two Briteway Car Wash locations — one in Marshfield, and the other in Norwell, Mass. Paul Vercollone, current co-owner and vice president of VERC Enterprises, will continue to operate these locations with his sons, Nick and Chris. For its part in the sale, Energy North Group purchased 11 VERC stores in Massachusetts. The transaction included 12 tenants that were previously under contract at those sites, including Dunkin’ and Subway. Nouria Energy took ownership of 17 VERC stores, including two with car wash operations, in Massachusetts and southeastern New Hampshire. The company has established a 10-year plan to grow through new builds and acquisitions. “This expansion allows us the opportunity to welcome and serve new customers as our valued guests, offering them the exceptional Nouria service, superior value, innovative and good-for-you products that we commit to deliver every day, in every store, now in even more locations,” said Tony El-Nemr, president and CEO of Nouria Energy. Global Partners acquired the remaining four VERC stores. With approximately 1,550 locations primarily in the Northeast, it is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores.
