Giant Eagle Inc., a multi-format food, fuel and pharmacy retailer, has acquired Indiana-based Ricker Oil Co. Inc., which owns and operates 56 Ricker’s convenience stores in the Indianapolis and Fort Wayne metro areas and throughout central Indiana. The finalized agreement brings Giant Eagle’s GetGo Cafe + Market and Ricker’s brands together in serving customers throughout Indiana.
Since opening its first Indianapolis area GetGo Cafe + Market in October 2015, Giant Eagle has been providing Hoosiers with made-fresh-to-order foods, including custom-made subs, burgers, breakfast sandwiches and more. Three years later, there are now seven GetGo locations spread throughout Central Indiana. The Ricker’s acquisition provides Giant Eagle with additional scale in the Indiana market as well as opportunities to leverage the strength of both the GetGo and Ricker’s brands.
Ricker’s has provided fuels, convenience stores and wholesale fuel services to companies and consumers throughout Indiana since 1979. In addition to acquiring the 56 Ricker’s convenience stores located in the Indianapolis and Fort Wayne metro areas and throughout Central Indiana, the agreement also includes Ricker Oil’s wholesale fuels distribution business of approximately 80 branded supply accounts located in Indiana, Illinois and Kentucky.
“Like Ricker’s, Giant Eagle is a proud family-owned and values-driven company,” Giant said in a press release. “Founded by five families nearly 90 years ago, representatives of each Giant Eagle family still serve the company today, including fourth-generation family member Laura Karet, Giant Eagle’s President and CEO.”
“Today is a very special day because we welcome more than 800 new team members to our Giant Eagle family and begin work to bring together Ricker’s and GetGo into a leading food-first convenience retailer in Indiana,” said Karet.
Polly Flinn, Giant Eagle’s EVP and GM of GetGo, added, “At GetGo, our positioning of taking the ‘cons out of convenience’ means we offer the highest-quality fresh foods, products and services to our customers. Our acquisition of the Ricker’s chain supports this strategy, and we look forward to bringing together the best of both businesses in Indiana.”
Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to Giant Eagle throughout the transaction.