{"id":34010,"date":"2021-01-15T13:22:23","date_gmt":"2021-01-15T18:22:23","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=34010"},"modified":"2021-01-18T11:59:21","modified_gmt":"2021-01-18T16:59:21","slug":"stewarts-shops-acquisition-of-red-kap-adds-gasoline-distribution-services-a-few-stores","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/01\/stewarts-shops-acquisition-of-red-kap-adds-gasoline-distribution-services-a-few-stores\/","title":{"rendered":"Stewart\u2019s Shops Acquisition Of Red-Kap Adds Gasoline Distribution Services, A Few Stores"},"content":{"rendered":"
\"\"
Red-Kap is a locally owned, family run business, has eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business.<\/figcaption><\/figure>\n

Stewart\u2019s Shops is announced it is expanding its fuel distribution business with the acquisition of Red-Kap, a locally owned, family run business.
\nStewart\u2019s officials said the company will acquire eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business.
\nUnder the terms of the agreement, Stewart\u2019s will maintain the branding of the Mobil, Citgo, and Sunoco stations and will convert a few of the Red-Kap locations into Stewart\u2019s Shops.
\n\u201cStewart\u2019s has always respected the business and our long personal relationship with the Kaplans and their team,\u201d said Stewart\u2019s Shops President Gary Dake. \u201cDoing business with people who respect people is always a pleasure. Both organizations come from long local family histories that have helped form the communities where we live.
\n\u201cThe acquisition will add eight corporately run locations and a significant addition of gasoline supply and distribution to local stations. Stewart\u2019s prides itself on vertical integration and support. In the age of COVID-19, with an ever-changing business climate, we look forward to extending this support to the distributor\/dealer network.\u201d
\nRed-Kap, based in Schenectady, owns eight convenience stores from Saratoga to Loudonville, Troy, East Greenbush, and as far west as the Syracuse suburb of Baldwinsville.
\nRed-Kap principal Jon Kaplan said, \u201cFrom our humble beginnings in one gas station, Red-Kap has grown to be a multi-site convenience store and car wash operator as well as one of the largest gasoline suppliers in upstate New York. None of this would have been possible without the work and talent of our employees, customers and business partners along with the support of our families … Being acquired by Stewart\u2019s is our final success. We have had a long and prosperous relationship with Stewart\u2019s, during which we have grown to respect and trust them.\u201d
\nHe said employees and customers are \u201cin good hands and able to face the challenges of the future with Stewart\u2019s and the Dake family. Knowing that Stewart\u2019s is a locally owned family business only adds to our contentment with this transaction.\u201d
\nIt will be the second wholesale fuel business acquisition for Stewart\u2019s this year. In January, the family- and employee-owned company invested $6.6 million in January to purchase Polsinello Fuel\u2019s fuel supply business at the Port of Albany.
\nStewart\u2019s currently operates 338 convenience stores in New York and Vermont.
\nAccording to its website, Red-Kap has more than 60 employees and sells more than 60 million gallons of gasoline and diesel annually.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stewart\u2019s Shops is announced it is expanding its fuel distribution business with the acquisition of Red-Kap, a locally owned, family run business. Stewart\u2019s officials said the company will acquire eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business. Under the terms of the agreement, Stewart\u2019s will maintain the branding of […]<\/p>\n","protected":false},"author":196,"featured_media":34011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\r\nStewart\u2019s Shops Acquisition Of Red-Kap Adds Gasoline Distribution Services, A Few Stores - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/01\/stewarts-shops-acquisition-of-red-kap-adds-gasoline-distribution-services-a-few-stores\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Stewart\u2019s Shops Acquisition Of Red-Kap Adds Gasoline Distribution Services, A Few Stores - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Stewart\u2019s Shops is announced it is expanding its fuel distribution business with the acquisition of Red-Kap, a locally owned, family run business. 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