Pantry Buys Southern C-Store Chain
Sanford, N.C., The Pantry Inc. will acquire Rome, Ga.-based D&D Oil Co., which operates 53 c-stores under the Cowboys banner. D&D does business in Georgia, Alabama and Mississippi, selling gas under the BP and Cowboys brand names. The deal also includes two additional stores that are under construction, and the development rights to seven potential store sites.
Hollywood Board Cautions Bondholders
New York City, Hollywood Entertainment urged caution on the part of bondholders when considering Blockbuster’s takeover offer. Blockbuster has offered to buy Hollywood’s $255 million of senior subordinated notes due in 2011 while it waits to hear back from antitrust regulators for a ruling on its hostile takeover bid for Hollywood.
CFO Tudor Resigns From Ingles Markets
Asheville, N.C., Ingles Markets Inc. today announced the resignation of Brenda S. Tudor, CFO and VP of finance, effective March 18. Ingles has begun to hunt for a new CFO, though Tudor will stay on part-time until a replacement is chosen. Tudor served 20 years with Ingles, eight of which she spent as CFO. She will not run for re-election for the board of the supermarket chain.