Retail Acquisitions in North Carolina

Legacy Markets, LLC has completed the acquisition of Triangle Stop Food Stores and JH Reaben Oil Company, adding 10 convenience store locations in western North Carolina serving the Hendersonville and Brevard communities. The deal expands Legacy Markets' footprint as it continues to grow by acquiring local convenience-store operators while preserving local brands and employee bases.

Hilco Consumer-Retail (HCR) completed the acquisition of the operations for Hanes Outlet and Maidenform stores on July 27, 2024. HCR will operate the stores using its RevUp Virtual Store Management program, aims to retain store teams, and will work with landlords to maximize the go-forward store footprint. The transaction represents Hanesbrands' divestiture of its brick-and-mortar store operations to a retail asset and operations specialist.

Cencosud completed acquisitions of U.S.-based The Fresh Market and Brazil-based GIGA Atacado, which were integrated into the group's results in 3Q22 and materially contributed to revenue and Adjusted EBITDA growth. The deals expand Cencosud's supermarket footprint across the United States and Brazil and support the group's inorganic growth and market share strategy.

Cencosud agreed to acquire a 67% majority stake in The Fresh Market Holdings, Inc. for a $1.568 billion enterprise valuation, investing $676 million in a mix of primary and secondary equity. The deal provides Cencosud with entry into the U.S. market while existing shareholders (including funds managed by Apollo, the Berry family and management) retain a minority interest and The Fresh Market’s management will continue to operate the business.

Signet Jewelers Limited has finalized its acquisition of Diamonds Direct USA Inc. for $490 million in cash. The deal — representing roughly a 1.1x multiple on annualized revenue and a 7.1x multiple on annualized EBITDA — adds 22 Diamonds Direct locations and expands Signet’s presence in the bridal and accessible-luxury jewelry market.

RV Retailer, LLC (RVR) has acquired Out-of-Doors Mart and Airstream of Greensboro, expanding RVR's store count to 77 and its presence in North Carolina to seven locations. RVR said it will invest in the Greensboro facility to grow sales and service, and that key personnel (Joel and Ben) will remain with the business.

RV Retailer, LLC (RVR) has acquired Bill Plemmons RV World, a two-store RV dealer group in the Winston-Salem/Greensboro and Raleigh, North Carolina markets. The Plemmons family will remain involved with Shawna and Sterling continuing to lead the stores; approximately 90 associates will join RVR and the transaction is expected to close in February.

RV Retailer, LLC has acquired Golden Gait Trailers & RVs (Charlotte/Concord, NC) and Camptown RV (Benson/Raleigh, NC) to expand its presence in the Carolinas. Both locations will be rebranded as RV One Superstores (while retaining the GGT specialty trailer brand), adding sales, parts and service capacity as part of RV Retailer's regional growth strategy.

Refuel Operating Company, LLC, a Charleston-based convenience store and fuel-distribution platform backed by First Reserve, agreed to acquire the operating assets of Holmes Oil, Inc. (Cruizers), including 26 convenience stores and a wholesale fuel distributorship in the Raleigh–Durham, North Carolina market. The undisclosed deal is an add-on to Refuel's platform and expands its store footprint and regional density in North Carolina.

Brighton Partners completed a platform investment in Read's Uniforms, a multi-location uniform distributor headquartered in Asheville, North Carolina. Brighton provided the company's first institutional capital in September 2020 and plans to support a roll-up strategy, expand the sales team and scale the company's e-commerce and omnichannel capabilities.