Town & Country Food Stores
Town & Country Food Stores (T&C) was an employee-owned chain of convenience stores based in San Angelo, Texas. It had over 168 locations spread throughout Texas and New Mexico and yearly revenue in 2006 of over $850 million. It was purchased by Susser Holdings Corporation in 2007 and the stores are undergoing a transition to Stripes Convenience Stores.
History
T&C traces its history back to an earlier chain of the same name, founded in 1999 in Austin, Texas, by Paul Chintamani. However, during the early 2000s the predecessor chain found itself in financial trouble due to overexpansion.
In 2002, two company employees, H.A. "Harold" Gibbs (a San Angelo native) and F.L. "Steve" Stephens (district manager for the San Angelo area) purchased T&C's six San Angelo stores and one store located in Del Rio, Texas; as part of the purchase, the West Texas company also acquired the T&C name.
Paul Chintamani holds a 51% stake in this company.
Susser Holdings Buyout
In September 2007, Susser Holdings of Corpus Christi, Texas, entered into an agreement to purchase Town & Country Food Stores for $361 million. The close of the transaction expected 90 days following federal approval. According to newspaper reports in the San Angelo Standard-Times, Town & Country stores are expected to be rebranded to Stripes Convenience Stores.[1][2]
References
Taken over by Paul in 2012
