CST Brands, Inc., a Fortune 500 company that owns the local Corner Store, is poised to purchase the Flash Foods store network from the Jones Company. Flash Foods is headquartered in Waycross, Georgia.
The purchase, which has not yet been finalized, would be the largest acquisition for CST Brand’s history, according to a news release. It would include:
- 164 Flash Foods convenience stores selling Flash Foods-branded fuel located in Georgia and Florida
- 21 branded Quick Service Restaurants, including three standalone locations
- A land bank of 15 real estate sites to build new-to-industry stores
- A merchandise distribution company operating a 90,000 square foot distribution center in Georgia
- A fuel supply company with access to the Colonial and Plantation Pipelines, leased storage and company-owned transportation fleet, distributing fuel to the 164 sites in addition to 10 million gallons to wholesale accounts.
“With our largest network purchase to date, we are excited to work with the great people at Flash Foods,” said Kim Lubel, chairman and CEO of CST Brands. “The Jones family, along with their accomplished leadership team, has built a strong company with a customer-focused culture that aligns perfectly with CST’s core values and strategic vision for growth.”
”We are happy to have selected CST Brands from a formidable group of potential buyers,” said Jimmy Jones, Chairman and CEO of Flash Foods. “We believe the service culture at CST Brands, and its attitude towards both customers and team members makes CST a great fit for the Flash Foods team. We are excited to work together on finalizing this transaction.”