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Retail & Shopping Centers

Waycross’s Jones family and their Flash Foods company sold for reported $465 million

Category: Retail & Shopping Centers

Brunswick Business Journal Staff Report

January 4, 2016 – Waycross headquartered Flash Foods, Inc. has been sold to a Fortune 500 company - fuel and convenience retailer, San Antonio-based CST Brands, Inc.

CST will acquire 100 percent of the outstanding shares of the Waycross’s Flash Foods, Inc. – a longtime Georgia business success story - and a large portion of the company’s convenience and gasoline stores in Georgia and Florida from the Jones Company, the parent of Flash Foods.

The acquisition includes 164 Flash Foods convenience stores, 21 branded Quick Service Restaurants including three stand-alone locations, 15 undeveloped real estate sites with the intention of building new stores and a merchandise distribution company that operates a 90,000 sq. ft. distribution center.

CST will also acquire the Jones family’s fuel supply company with access to the Colonial and Plantation Pipelines, leased storage and a company-owned transportation fleet that distributes fuel to the 164 stores, plus a current commercial business base of 10 million gallons of fuel annually to wholesale accounts.

Yahoo Finance reports a purchase price of $465 million; the deal will close early in 2016.

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