Giant Eagle to Buy Ricker's Convenience Stores
Giant Eagle has agreed to purchase Ricker Oil Co., which owns and operates 56 convenience stores and gas stations under the Ricker's banner in Indiana, the Indianapolis Business Journal (IBJ) has revealed.
The Pittsburgh-based grocery chain's deal, which will significantly grow its presence in central Indiana, is expected to close by the end of this month, although terms of the deal weren't disclosed. According to the news outlet, all 850 employees are expected to be retained.
Jay Ricker, chairman of the c-store chain, said that Giant Eagle will decide whether it will rebrand all Ricker's stores under its own c-store banner, GetGo. However, a Giant Eagle representative told IBJ that there are no immediate plans to rename the stores.
The deal was inked after Giant Eagle approached Ricker, who, at 68 years old, is seeking to retire.
Giant Eagle opened its first store in Indiana in 2015, in the Indianapolis suburb of Carmel. The retailer currently operates a combined seven grocery and convenience stores in the state.
Last week, Giant Eagle revealed a partnership with mobile marketplace OfferUp to give customers who buy or sell items within the company's mobile app the ability to select one of 91 Giant Eagle, Market District and GetGo locations as a designated Community MeetUp Spot, where they can complete person-to-person transactions in a secure location.
Giant Eagle operates 410 stores throughout western Pennsylvania, north central Ohio, northern West Virginia, Maryland and Indiana. The retailer is No. 16 on Progressive Grocer's Super 50 list of the top grocers in the United States.