WFI Acquisition, Inc., led by the Nanula Family and Bruckmann, Rosser, Sherrill & Co., LLC ("BRS"), has executed an agreement for the sale of its 188 Wilson Farms locations in New York to 7-Eleven, Inc.
"Wilson Farms has been a successful convenience chain serving customers and communities in the New York area for over forty years," said Paul Nanula, President and CEO of Wilson Farms. "The WFI group has owned the brand for the past six years making significant progress in growing the business. It is a testament to the entire employee base of Wilson Farms and the business that we operate that 7-Eleven was interested in acquiring our chain."
"On behalf of our 2,500 associates, I’d like to thank our loyal customers for their patronage and continued support," Nanula added. "I am confident that these stores will continue to serve the public, and that the winning combination of 7-Eleven and Wilson Farms will further strengthen the convenience offering for our customers."
Wilson Farms began as a division of Tops in 1969. In 1991, the convenience chain was sold to Ahold along with 59 Tops supermarket locations, and Tops acquired the Sugarcreek branded stores in May of 2000. In 2005, the Nanula Family partnered with BRS and Dan Shanahan, Wilson Farms’ CFO, to purchase the Wilson Farms and Sugarcreek stores from Tops Markets.
Tom Baldwin, Managing Director of BRS, said, "Our partnership with Wilson Farms has been very positive. Since our investment in 2005, the company has demonstrated strong financial performance, including growth throughout the recent recession. The entire organization has contributed to this success and we wish them all the best."
BMO Capital Markets acted as exclusive financial advisor to Bruckmann, Rosser, Sherrill & Co. and the Nanula family in the sale of Wilson Farms, Inc. to 7-Eleven, Inc.
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