Toledo 76 Inc. (PS Food Mart) is selling eight of its convenience stores in Toledo, Ohio, to S&G Convenience Stores, Downstream Energy Group (DEG) said in a press release sent to NACS. DEG served as the sell-side advisor.
Founded in the 1920s by the Folk family, PS Food Mart is a family-run convenience store operator with more than 40 locations across South Central Michigan and Northern Ohio.
“This transaction involved only eight Toledo-area stores, representing a strategic divestment as part of PS Food Mart’s broader portfolio optimization plan. The sale enables the company to right-size its portfolio, sharpen its geographic focus and reallocate resources to accelerate long-term growth and continued investment across its core Michigan markets,” DEG said.
“S&G Convenience Stores is acquiring high-quality retail assets that align well with its expanding footprint,” said Jeff Traub, partner at DEG. “Richard Folk and his team have built an exceptional company, and it has been a privilege to represent them in this transaction.”
Ohio-based S&G Convenience Stores has 65 locations across Ohio and Michigan.
In the June 2025 issue of NACS Magazine, NACS Media took a deep dive into merger and acquisition strategies in Approaches to M&A.