Stewart’s Shops is proud to announce we have acquired the assets of Red-Kap. The acquired assets include eight convenience stores, four car washes (one is currently being built) and a fuel distribution to 75+ dealers, which is the heart of the deal.
Stewart’s Shops will maintain the branding of the Mobil, Citgo, and Sunoco stations and will convert two of the Red-Kap locations into traditional Stewart’s Shops. The remaining six locations will become ‘Stewart’s Express’ shops. These smaller shops will have limited product offerings, less seating, and fewer food to go options and will not serve hand-scooped ice cream. The Stewart’s Express locations will offer some ice cream flavors in pre-packaged pints and half gallons.
Stewart’s Shops president Gary Dake said, “Due to our long-standing business history and the level of trust between us, we were able to complete this deal in a relatively short amount of time. Stewart’s Shops has always respected and admired the integrity of the family-owned Red-Kap organization. This is primarily a fuel distribution transaction, and we look forward to extending our support to the distributor and dealer network.”
Red-Kap principal Jon Kaplan states, “Selling a family business is a complex and emotional undertaking. Throughout this process, I have come to realize how fortunate we were to be acquired by Stewart’s. The integrity and compassion that they have shown throughout the transaction is a testament to the Dake family and the organization they have built.”
The eight convenience stores are located in Albany, Baldwinsville, Berne, Hudson, Rensselaer, Saratoga Springs, Castleton, and Loudonville and are already undergoing conversions into Stewart’s Shops and ‘Stewart’s Express’ locations and will be completed in 2021.