Tracked deals
20
20 tracked deals across 2019-2026.
Retail Buyers & Acquisitions in Illinois
Buyer mix
Mixed buyer set
11 strategic · 10 pe
Top trend
Volume peaked in 2021
4 tracked deals announced in 2021.
Primary Insight
What Stands Out
- Auto retail in Illinois includes dealership franchise consolidation, including Coleman Automotive Group’s McGrath Nissan acquisition.
- Convenience and fuel-adjacent retail activity includes rebranding and footprint expansion, such as BreakTime Corner Market and the Minit Mart stores.
- Specialty retail deals reflect capability and channel shifts, including S5 Equity’s acquisition of Heartland America (owner of Hammacher Schlemmer) and plans to support e-commerce.
- Growth strategies frequently center on customer experience and loyalty programs alongside physical remodels or new program rollouts.
| Deal type (Illinois) | Example buyer | Example target | What changed post-close |
|---|---|---|---|
| Convenience/fuel | BreakTime Corner Market (BTCM) | Minit Mart stores | Rebrand to BrakeTime; retain team members |
| Specialty retail | S5 Equity | Heartland America | Strengthen loyalty; shift legacy catalog toward e-commerce |
| Auto dealerships | Berman Automotive Group | Kia of Lincolnwood / Hyundai of Lincolnwood | Franchise acquisitions in Chicago-area market |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Ayr Wellness Inc. | 2 | Vertically integrated multi-state cannabis operator (MSO)... | Strategic |
| Adolph Kiefer & Associates (Kiefer Aquatics) | 1 | Longstanding distributor and specialty retailer of swim, ... | Strategic |
| Apollo | 1 | Global alternative asset manager that sponsors private eq... | PE |
| Ball Pro | 1 | Supplier of golf tournament products and branded promotio... | Strategic |
| Balmoral Funds | 1 | Los Angeles-based private equity firm focused on middle-m... | PE |
| Berman Automotive Group | 1 | Family-owned dealership group operating multiple automoti... | Family Office |
| Blackford Capital | 1 | National private equity firm making majority control inve... | PE |
| Bow River Capital | 1 | Private alternative asset manager focused on lower- and m... | PE |
| BreakTime Corner Market LLC | 1 | Operator of convenience stores, gas stations and travel p... | Strategic |
| Camping World Holdings, Inc. | 1 | Retailer of RVs and related products and services operati... | Strategic |
Acquisition Volume in Retail in Illinois by Year
Last 8 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Coleman Automotive Group
- Target
- McGrath Nissan
- Seller
- Scott McGrath
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Coleman Automotive Group acquired McGrath Nissan in Elgin, Illinois from Scott McGrath. The dealership will be renamed Nissan of Elgin and remain at its current location, marking Coleman Automotive Group’s seventh dealership acquisition and third Nissan franchise.
-
- Buyer
- Invesco Senior Secured Management, Inc., Fortress Investment Group (affiliates)
- Target
- Empire Today, LLC
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Recapitalization
Empire Today, LLC has received a new equity investment from an investment group led by funds managed by Invesco Senior Secured Management and funds managed by affiliates of Fortress Investment Group. The equity infusion is part of a broader transaction aimed at solidifying Empire’s balance sheet, and Invesco and Fortress now own the majority of the company’s equity.
-
- Buyer
- Berman Automotive Group
- Target
- Kia of Lincolnwood, Hyundai of Lincolnwood
- Seller
- Leader Automotive Group
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Divestiture
Berman Automotive Group acquired Kia of Lincolnwood and Hyundai of Lincolnwood from Leader Automotive Group, the U.S. subsidiary of AutoCanada. Haig Partners served as the exclusive sell-side advisor for the transactions in Chicago, Illinois.
-
February 21, 2025
- Buyer
- Ball Pro
- Target
- Branded Apparel
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Golden Valley, Minnesota-based Ball Pro has acquired Branded Apparel, a 52-year-old Northbrook, Illinois supplier of name-brand golf and corporate apparel. The acquisition adds recognized apparel brands to Ball Pro’s product mix to create a more complete one-stop solution for golf tournaments and related corporate programs; financial terms were not disclosed.
-
November 15, 2024
- Buyer
- BreakTime Corner Market LLC (BTCM)
- Target
- Minit Mart (39 convenience stores)
- Seller
- EG America LLC
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Divestiture
BreakTime Corner Market LLC (BTCM) is acquiring 39 convenience stores operating under the Minit Mart brand in central and northern Illinois from EG America LLC. EG Group said the disposal generated net proceeds of $38 million; BTCM will rebrand the locations to BrakeTime, retain existing team members, and expand its Midwest footprint.
-
September 5, 2024
- Buyer
- S5 Equity
- Target
- Hammacher Schlemmer, Heartland America
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
S5 Equity has acquired Heartland America — the owner/operator of the long-running catalog retailer Hammacher Schlemmer — with financing support from Gordon Brothers, which provided a revolving credit facility to back the deal. S5 plans to strengthen customer experience and loyalty while continuing to shift the legacy catalog business toward e-commerce.
-
- Buyer
- Rmarts LLC
- Target
- Two Shell gas stations in Highland Park, Illinois
- Seller
- John Kyle Sr.
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Divestiture
Northbrook-based Rmarts LLC acquired two legacy Shell gas stations with convenience stores in Highland Park, Illinois, from longtime operator John Kyle Sr., closing the deal in June. Rmarts plans to rebrand and remodel the stores, upgrade foodservice and coffee programs, overhaul a car wash, and add EV charging as it expands its Chicago-area footprint.
-
November 17, 2023
- Buyer
- Bow River Capital, Freedom 3 Capital
- Target
- Gas N Wash
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Growth capital
Bow River Capital and Freedom 3 Capital provided a tranche of growth capital financing to Gas N Wash, a family-owned gas station, convenience store and car wash operator based in Frankfort, Illinois. The investment will support continued expansion of Gas N Wash's new-development rollout (more than 28 locations) across the greater Chicago area.
-
- Buyer
- Camping World Holdings, Inc.
- Target
- Richardson's RV Centers
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Camping World Holdings, Inc. announced an agreement to acquire Richardson's RV Centers, the largest acquisition in its history. The deal includes eight locations across California and Indiana and is expected to strengthen Camping World's position as the No. 1 RV dealer in California.
-
April 20, 2022
- Buyer
- Apollo (funds managed by affiliates of Apollo Global Management)
- Target
- Tony's Fresh Market
- Seller
- Founding family of Tony's Fresh Market
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Funds managed by Apollo Global Management have acquired Tony's Fresh Market, a Chicago-area specialty grocery chain operating 18 stores. The founding family will remain involved as managers and minority shareholders while Apollo plans to support growth through go-to-market execution, customer loyalty programs and e-commerce expansion.
-
Jefferson River Capital-Led Investor Group Acquires Follett Corporation and Follett Higher EducationFebruary 2, 2022
- Buyer
- Jefferson River Capital LLC, Private investor group (led by Jefferson River Capital LLC / James family)
- Target
- Follett Corporation, Follett Higher Education (FHE) / Follett ACCESS
- Seller
- Follett family, Follett Corporation shareholders
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Follett Corporation announced the sale of its corporate entity and Follett Higher Education (including the Follett ACCESS business) to a group of private investors led by Jefferson River Capital LLC, a private investment company controlled by the James family. The transaction transfers ownership from the Follett family and shareholders to the investor group, with Emmanuel Kolady named CEO of Follett Higher Education and Ryan Petersen appointed President of FHE; terms were not disclosed.
-
December 30, 2021
- Buyer
- The Container Store
- Target
- Closet Works
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
The Container Store (NYSE: TCS) acquired Chicago-based custom home storage and closet manufacturer Closet Works for $21.5 million, a deal that closed December 30, 2021. The acquisition expands The Container Store's wood-based manufacturing capabilities and premium product offering, giving the retailer in-house production, greater quality control and opportunities to increase margins and customization options.
-
November 22, 2021
- Buyer
- Ayr Wellness Inc.
- Target
- Gentle Ventures, LLC (d/b/a Dispensary 33)
- Seller
- Holders of 100% of the equity interests of Dispensary 33 (collectively, the "Sellers"), Gentle Ventures, LLC
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Ayr Wellness Inc. has entered into an agreement to acquire Gentle Ventures, LLC (d/b/a Dispensary 33), which operates two licensed retail cannabis dispensaries in Chicago’s Andersonville and West Loop neighborhoods. Consideration is expected to total $55 million upfront (including $12 million cash, $3 million seller notes and $40 million stock) with an earn-out tied to Adjusted EBITDA; the transaction is subject to customary closing conditions and regulatory approvals.
-
July 20, 2021
- Buyer
- Ayr Wellness Inc.
- Target
- Herbal Remedies Dispensaries, LLC
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Ayr Wellness Inc. agreed to acquire 100% of Herbal Remedies Dispensaries, LLC, an operator of two licensed retail cannabis dispensaries in Quincy, Illinois, for total consideration of $30 million (comprised of $10 million in stock, $12 million in seller notes and $8 million in cash). The acquisition adds roughly 50 employees, expands Ayr into its eighth state (Illinois), is expected to close in Q4 2021 and is subject to customary regulatory approvals.
-
March 12, 2021
- Buyer
- Clayton, Dubilier & Rice, S&S Activewear management and current owners
- Target
- S&S Activewear
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Clayton, Dubilier & Rice (CD&R) has acquired S&S Activewear, investing alongside the company’s current owners and management to support long-term growth. S&S Activewear, headquartered in Bolingbrook, Illinois, is a leading North American wholesaler and distributor of imprintable apparel and accessories with roughly $1.5 billion in sales and more than 2,000 employees.
-
November 17, 2020
- Buyer
- Rinse, Inc.
- Target
- Dryv
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Rinse, the San Francisco-based on-demand laundry and dry-cleaning service, has acquired Dryv, a Chicago-based dry cleaning and laundry provider, to accelerate its expansion in the Chicago market. The acquisition gives former Dryv customers access to Rinse’s broader service set — including subscription offerings and corporate laundry benefits — and strengthens Rinse’s national footprint.
-
December 26, 2019
- Buyer
- Blackford Capital
- Target
- Cartridge World (U.S. business)
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Blackford Capital, a private equity firm based in Grand Rapids, Michigan, completed an investment to acquire the U.S. brand licensing rights for Cartridge World, a franchised network of printer consumables retailers headquartered in McHenry, Illinois. The U.S. business operates nearly 230 franchised retail store locations; Blackford intends to strengthen supply chain and distribution relationships and support franchisee growth through operational and strategic initiatives.
-
March 12, 2019
- Buyer
- Enesco, LLC, Balmoral Funds
- Target
- Things Remembered, Inc.
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Addon
Enesco, a portfolio company of Balmoral Funds, has completed its acquisition of Things Remembered, the omnichannel personalized gifts retailer. The deal preserves approximately 1,400 jobs and 176 stores; Enesco said the acquisition expands its personalization capabilities and broadens its product offering across online, direct mail, B2B and retail channels.
-
- Buyer
- Levine Leichtman Capital Partners, Club Champion management
- Target
- Club Champion, LLC
- Seller
- Sellers of Club Champion (unnamed)
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Buyout
Levine Leichtman Capital Partners (LLCP) partnered with Club Champion management to acquire Club Champion, a leading U.S. provider of custom golf club fitting services and retail golf equipment. Headquartered in Willowbrook, Illinois, Club Champion operated 47 stores across 25 states at the time of the transaction and will pursue continued store expansion under LLCP's ownership.
-
January 3, 2019
- Buyer
- First Capital Partners, Adolph Kiefer & Associates (Kiefer Aquatics)
- Target
- The Lifeguard Store
- Seller
- Mark Oostman
- Industry
- Retail
- Location
- Illinois, United States
- Type
- Growth capital
First Capital Partners completed a mezzanine and equity investment in Adolph Kiefer & Associates (now operating as Kiefer Aquatics) to support the company's acquisition and merger with The Lifeguard Store. The combined business will operate as Kiefer Aquatics, consolidate operations in Bloomington, Illinois, and continue serving lifeguards, competitive swimmers and aquatics facilities through multiple retail and distribution brands.
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Frequently Asked Questions
What kinds of retailers are being acquired in Illinois?
The listed deals include auto dealerships, convenience stores, gas station and car wash operators, specialty grocery, branded apparel suppliers, and specialty retail/catalog brands.
Do Illinois retail acquisitions usually involve rebranding?
Several deals in the page facts describe post-acquisition rebranding or store updates—for example, locations acquired by BreakTime Corner Market are set to be rebranded to BrakeTime, and another deal references plans to rebrand and remodel stores.
Which deal examples on this page involve e-commerce or digital shifts?
S5 Equity’s acquisition of Heartland America (owner of Hammacher Schlemmer) includes plans to shift the legacy catalog business toward e-commerce; Apollo (funds managed by affiliates of Apollo Global Management)’s acquisition of Tony’s Fresh Market includes e-commerce expansion plans.
Are investment firms involved, or are operators the main acquirers?
Both appear on the page. Operators and retail groups lead several acquisitions (e.g., dealership and store buyers), while investment managers also participate (e.g., Invesco and Fortress in an equity investment for Empire Today and S5 Equity in a specialty retail acquisition).
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