Retail Acquisitions in Virginia

F9 Investments, the private equity firm controlled by LL Flooring founder Tom Sullivan, completed a going-concern purchase of LL Flooring’s assets, acquiring 219 stores, inventory, the Sandston, Virginia distribution center, intellectual property and other assets. The transaction—completed through the court-supervised Chapter 11 process—preserves the business and keeps the acquired stores open while remaining locations continue closing sales.

Global Partners LP acquired Tidewater Convenience, Inc.'s 15 convenience-store locations (14 company-operated) in Southeast Virginia, expanding the Partnership's retail footprint in the mid-Atlantic. Matrix Capital Markets Group served as exclusive financial advisor to the seller.

SMO, Incorporated (part of The Wills Group) acquired six retail fuel and convenience store locations from MAPCO, completing the transaction on March 3, 2022. The stores — located along the Virginia I-95 corridor and in Warrenton, Virginia — expand The Wills Group's Mid-Atlantic footprint and strengthen its presence in the truck diesel market.

Global Partners LP has purchased Miller's Neighborhood Market, acquiring 23 convenience stores (21 company-operated) and fuel supply agreements covering 34 locations primarily in Virginia. The acquisition expands Global's retail footprint in the mid-Atlantic region and strengthens its integrated fuel and convenience-store operations; the purchase price was not disclosed.

OneWater Marine Inc. has reached an agreement to acquire Norfolk Marine Inc., expanding OneWater’s presence in the Mid-Atlantic and establishing its first dealership in Virginia. Norfolk Marine is a third-generation, family-owned full-service boat dealer that generated over $20 million in sales in the prior twelve months and offers new and pre-owned boat sales, parts, finance and service; the deal was expected to close in Q4 2021.