Retail Acquisitions in Wisconsin

True North Energy LLC, a joint venture between the Lyden family and Shell Oil Co., has acquired 15 fee-owned convenience retailing and petroleum marketing assets from Wagner Shell Co./Wagner Oil in the Green Bay, Wisconsin market. The stores — previously owned and operated by Mellissa Wagner and family — will be reimaged to the truenorth brand and continue selling Shell fuel while expanding True North's Wisconsin footprint.

Soccer Post, the largest community-focused soccer specialty retailer in the United States, has acquired Stefans Soccer, a family-owned specialty retailer operating multiple locations in the greater Milwaukee, Wisconsin area. The acquisition expands Soccer Post’s local-market footprint in Wisconsin and surrounding states and brings Stefans’ team and community-focused retail operations into Soccer Post’s omni-channel platform.

SpartanNash has acquired Metcalfe's Market, a three-store Wisconsin grocery chain, expanding SpartanNash's Wisconsin footprint to seven stores. SpartanNash will retain Metcalfe's storefront, branding and employees, and bring its private-label offerings and loyalty program to the acquired stores; terms were not disclosed.

Shoe Carnival, Inc. acquired Rogan's Shoes, a 53-year-old family and work footwear retailer operating 28 stores across Wisconsin, Minnesota and Illinois, for $45 million in an all-cash transaction. The acquisition is expected to be immediately accretive to fiscal 2024 results (approx. $84M in sales and $10M in operating income) and expands Shoe Carnival's presence in Wisconsin and into Minnesota while integrating Rogan's into the Shoe Station banner.

Concentric Equity Partners, the direct investing arm of Financial Investments Corporation, has completed a strategic investment partnership with The Boat House Group to support the dealer’s acquisition-driven growth and operational expansion. The capital and strategic support will help TBHG pursue acquisitions, increase operational efficiency, and expand its multi-store boat dealership and marine services footprint across the Midwest and Florida.

Camping World Holdings, Inc. has agreed to acquire Van Boxtel RV in Green Bay, Wisconsin, with the transaction expected to close in the third quarter of 2023. The deal will increase Camping World's Wisconsin locations to seven and adds sales, over 30 service bays, a collision center, seasonal rentals and a parts and accessories store at the Green Bay site.

Exaltare Capital Management acquired GF Midwest, Inc., a Milwaukee-based operator of 23 Good Feet Store franchises across nine states. The transaction was financed with debt and equity capital from Genesis Park and Tecum Capital; founder Arnold Pereira remains CEO and a meaningful shareholder as the company pursues new-store development and acquisitions to scale.

Action Power Sports, a Waukesha-based powersports dealership, acquired Don & Roy's Cycle Shop (dba Don & Roy's MotorSports), a long-standing family-owned powersports dealership in Brookfield, Wisconsin. The sale, advised by Generational Equity, closed on April 1, 2022 and transfers ownership of Don & Roy's new/used vehicle sales, parts and service operations to Action Power Sports to support employees and customers.

NewSpring’s franchise-focused strategy, NewSpring Franchise, made a growth equity investment in Central Bark to accelerate the dog daycare brand’s franchise expansion and strengthen its infrastructure. Central Bark’s founders will remain involved in operations as the company uses proceeds to fuel geographic expansion, franchise development, and investments in technology and operations.