Enmarket stores will become part of the fast-growing Nouria convenience store chain.
According to a press release posted to Newswire on Oct. 31 , the northeast retailer signed a definitive agreement with Savannah-based Colonial Oil Group, Inc. to acquire Enmarket, the convenience retailer chain established by Robert Demere, scion of Colonial Oil’s founder, in 1963.
A definitive agreement, or definitive purchase agreement, as defined by the Corporate Financial Institute is “a legal document that records the terms and conditions between two companies that enter into an agreement for a merger, acquisition, divestiture, joint venture, or some form of strategic alliance.”
On Friday, Enmarket posted an announcement to its social media pages, stating it has “aligned with a company that shares our commitment to exceptional service and quality products.” The statement also noted that Tony El-Nemr, CEO and founder of Nouria, as well as members of its leadership team, visited Enmarket’s offices and store locations last week.