Stewart’s Shops to Buy Jolley Convenience-Store Chain

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Stewart’s Shops has signed an agreement to buy the assets of St. Albans, Vermont-based Jolley Associates, including 45 convenience stores—38 in Vermont, five in New York and two in New Hampshire. The deal also includes petroleum products company S.B. Collins and heating oil business Clarence Brown.

The companies expect the acquisition, which requires federal regulatory approval, to close by the end of 2024, Ballston Spa, New York-based Stewart’s Shops said, adding that terms of the deal are confidential. 

The deal comes soon after the Dake family, owners of Stewart’s Shops, said they are preparing to sell their 60% stake in the convenience-store chain to its employees over the next 20 years.

“We are thrilled to have this opportunity to acquire a company with such an impressive reputation in a market that we’ve been watching for many years,” said Gary Dake, Stewart’s Shops president. “One of the primary reasons we were drawn to this deal is because of the quality and the character of Jolley’s employees.”

• Stewart’s Shops is No. 23 on CSP’s 2024 Top 202 ranking of U.S. convenience-store chains by store count. Jolley Stores is No. 148.

The acquisition also brings together two longtime family businesses, Stewart’s Shops said. Jolley Associates was founded 50 years ago by brothers Bruce and Robert Jolley. Through the years, their business developed a reputation as a market leader throughout Vermont.

Bruce Jolley, president and co-founder of Jolley Associates, said, “We are proud of what we have accomplished over the years, and we are happy to know that Stewart’s is providing our employees an opportunity to have ownership in the business and will continue to treat them well.” 

Founded in 1945, Stewart’s Shops is an employee- and family-owned convenience-store chain known for its milk, ice cream, coffee, Easy Food meals and other convenience items. There are 357 Stewart’s Shops in upstate New York and southern Vermont.

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