Cary, Ill. The Pantry has signed a deal to buy 47 convenience stores from Presto Convenience Stores LLC, which operates stores under the Presto banner.
The company said it will pay cash to buy the stores, of which 44 are located in Kansas, and three in Missouri. Financial terms of the transaction were not released.
In other news, Mark Bierley, former COO of Borders Group, has joined The Pantry as CFO, effective Sept. 27. He will replace Frank Paci, who has informed the board that he will resign as of Sept. 26, to “pursue other interests.”
Bierley, 42, resigned from Borders on Aug. 23, about two months after he added the COO title. He had served as the bookstore chain’s CFO since early 2009.