Matrix Capital Markets Group advised Giant Eagle and its affiliates on the sale of its GetGo Café + Market convenience retail, WetGo Car Wash and wholesale motor fuels distribution businesses to two separate buyers. Collectively, these two transactions represent a complete exit for the company from these operations, allowing Giant Eagle to focus on its core supermarket and pharmacy businesses.
Matrix provided merger and acquisition advisory services to Giant Eagle, which included valuation advisory, conducting a confidential, structured sale process and negotiation of the transactions. The transactions were managed by Stephen Lynch, managing director; Spencer Cavalier, co-head of Matrix’s downstream energy and convenience retail investment banking group; Kyle Tipping, vice president; and James Mickelinc, senior associate.
“This was a highly complex transaction, and the team from Matrix proved to be an exceptional advisor every step of the way,” David Burnworth, CFO of Giant Eagle, said. “Their ability to manage a dynamic and fluid process while providing thoughtful, strategic guidance was key to achieving a successful result for Giant Eagle.”
“Over the years, it has been exciting to not only watch Giant Eagle grow its GetGo, WetGo and wholesale motor fuels distribution businesses but to also be part of the story by advising Giant Eagle on multiple occasions,” Lynch said. “We have always admired Giant Eagle’s incredible operating prowess across all of its business lines and are very grateful to have been given the opportunity to advise them on this series of transactions.”
Weil, Gotshal & Manges and Winthrop & Weinstine served as legal counsel for Giant Eagle with respect to the transactions with Couche-Tard and Cary Oil, respectively.
