CST Brands to Acquire Nice N Easy Grocery Shoppes

CST Brands, Inc.

today announced the signing of a definitive agreement to acquire the convenience store assets, franchisor rights and associated trademarks of Nice N Easy Grocery Shoppes. Based in Canastota, NY, Nice N Easy operates 77 corporate and franchise stores in Central New York. The company operations include thirty-three company operated stores along with forty-four franchise locations. Nice N Easy has been at the forefront of the foodservice growth in convenience stores with the presence of its own Easy Street Eatery concept in many of its corporate stores, adding to an already extended grocery products offer. The acquisition will provide entry into a new geographical territory for CST Brands, providing an additional area of growth for its new-to-industry stores, adjacent to its Canadian network of sites. The transaction is subject to customary conditions to closing, including satisfactory completion of due diligence, and is expected to close early in the fourth quarter of 2014. Terms of the transaction were not disclosed. “Our stores across the United States and Canada share a lot in common with Nice N Easy Grocery Shoppes, making this a great match culturally and a prime opportunity for CST Brands to enter into new markets,” said Kim Bowers, Chairman and CEO of CST Brands. “Both Nice N Easy and CST Brands are committed to great people, loyal customers and strong community ties, and we look forward to delighting more customers every day together.” Fran Duskiewicz, President and CEO of Nice N Easy Grocery Shoppes, stated, “Nice N Easy's founder, the late John MacDougall, started this process a year ago with very specific provisions about the sale that would protect the Nice N Easy Grocery Shoppes name, image, people and his legacy. It is bittersweet that we have reached this point without him with us to enjoy the potential growth of our program that we believe CST Brands will provide. Company culture is everything to us and we've made a decision that will allow that culture to continue and grow with a group with whom we share many business philosophies.”