M&A Deal Summary

7-Eleven Acquires Global Convenience Investments

On February 24, 2010, 7-Eleven acquired retailer Global Convenience Investments from Ironwood Capital

Acquisition Highlights
  • This is 7-Eleven’s 1st transaction in the Retail sector.
  • This is 7-Eleven’s 2nd transaction in the United States.
  • This is 7-Eleven’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2010-02-24
Target Global Convenience Investments
Sector Retail
Buyer(s) 7-Eleven
Sellers(s) Ironwood Capital
Deal Type Add-on Acquisition

Target

Global Convenience Investments

Moline, Illinois, United States
Global Convenience Investments owns and operates a convenience store chain under the Mother Hubbard’s Cupboard name, located in the Quad Cities area of Illinois and Iowa. Along with the British Petroleum gasoline it sells to both retail and corporate customers, the stores offer a full array of convenience store items, as well as the convenience of other co-located businesses (Subway, Domino’s, Sprint PCS etc.) In addition, several of the sites have laundry-mats, car washes, and other tenants.

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Buyer(S) 1

Buyer

7-Eleven

Dallas, Texas, United States
Category Company
Founded 1927
Sector Franchising
DESCRIPTION

7-Eleven, Inc. operates, franchises, and licenses a chain of convenience stores in the United States and Canada.

DEAL STATS #
Overall 2 of 20
Sector (Retail) 1 of 18
Type (Add-on Acquisition) 2 of 8
State (Illinois) 2 of 2
Country (United States) 2 of 18
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-10 White Hen Pantry

Lombard, Illinois, United States

White Hen Pantry, Inc. is a eading convenience store chain in mid-west with over 270 locations nation widePartnered with senior management and a distressed fund to acquire the business out of the Clark Retail bankruptcy

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Wilson Farms

Lexington, Massachusetts, United States

Wilson Farms is an operator of approximately 200 convenience stores under the Wilson Farms and Sugarcreek brands. Wilson's primary products include an extensive line of grocery, frozen and dairy products as well as gasoline in select locations.

Buy -

Seller(S) 1

SELLER

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.

DEAL STATS #
Overall 4 of 53
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 4 of 32
State (Illinois) 1 of 4
Country (United States) 4 of 53
Year (2010) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-11 American Blanching

Fitzgerald, Georgia, United States

ABC Peanut Butter LLC is a manufacturer of peanut butter for national brands, private label retail and industrial markets and provides peanut blanching, granulation and roasting services for the commercial peanut industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-16 Whitcraft

Eastford, Connecticut, United States

Whitcraft is a manufacturer of high quality, precision formed, machined and fabricated metal parts for the U.S. aerospace industry. The Company manufactures new and replacement jet engine and helicopter parts for large engine manufacturers serving both the commercial and military aircraft market. Whitcraft was founded in 1960 and is based in Eastford, Connecticut.

Sell -
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