INDIANAPOLIS (WISH) — A gas station and convenience store company started in 1979 in central Indiana will “join forces” with a newer one in the local market, the businesses announced Thursday.
Ricker’s and Giant Eagle, which operates GetGo gas stations and convenience stores, said they have entered into an acquisition agreement in central Indiana. The announcement said there will be no disruption to Ricker’s or GetGo store operations as a result of the agreement between the two companies.
The announcement did not include the terms of the deal.
Anderson-based Ricker’s Oil has 56 convenience stores. They are owned by Jay and Nancy Ricker. He has been a voice in Indiana legislative attempts to change laws that limit carry-out cold-beer sales to liquor stores.
In March 2017, Ricker’s began selling cold beer at two locations that created a made-to-order food area. Legislators later passed a law to close what was called a loophole that allowed Ricker’s to sell cold beer.
Indiana in 2018 changed its law that kept liquor stores from opening on Sundays, but did not change the law that limits carry-out sales of cold beer to liquor stores.
Giant Eagle and GetGo are based in Pittsburgh. The chain operates 200 GetGo locations in Indiana, Maryland, Ohio, Pennsylvania and West Virginia. It opened its first Indianapolis-area GetGo cafe and market in 2015 and now has six central Indiana locations with a seventh to open in Zionsville in October.
The deal is expected to be completed by year’s end.
Laura Karet, president and CEO of Giant Eagle, issued this statement:
“We are thrilled to partner with such a strong company, brand and talented group of Ricker’s employees. We look forward to building on the great history that Ricker’s has in Indiana, and carrying forward many of the amazing offerings and services Ricker’s customers have come to expect.”
Jay Ricker, chairman of the board, issued this statement:
“Giant Eagle, like Ricker’s, is a family-owned company. We believe strongly that the coming together of our two businesses will be a seamless, and extremely positive, experience for employees, customers and business partners alike. We want to thank our loyal Ricker’s customers, and assure them this new business arrangement will help us maintain our position as a leader in the convenience store industry.”
Quinn Ricker, Jay and Nancy’s son and Ricker’s president and CEO, said in the announcement:
“Ricker’s has proudly served the Indiana community for nearly 40 years, and we are so excited to have found a partner in Giant Eagle and GetGo who shares the people-focused values we hold so dearly. Giant Eagle, like Ricker’s, is a family-owned company. We believe strongly that the coming together of our two businesses will be a seamless, and extremely positive, experience for employees, customers and business partners alike.”