SARATOGA SPRINGS — Stewart’s Shops has acquired eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business, the company announced Nov. 13. The acquisition involves Red-Kap, a locally owned family run business.
The eight convenience stores are located across the Capital Region – including South Broadway in Saratoga Springs, and the car washes are currently located in Schenectady, Loudonville and East Greenbush, according to the Red-Kap website. Stewart’s plans to maintain the branding of the Mobil, Citgo, and Sunoco stations and will convert a few of the Red-Kap locations into Stewart’s Shops.
“From our humble beginnings in one gas station, Red-Kap has grown to be a multi-site convenience store and car wash operator as well as one of the largest gasoline suppliers in upstate New York,” Red-Kap principal Jon Kaplan said in a prepared statement. “Being acquired by Stewart’s is our final success. We have had a long and prosperous relationship with Stewart’s, during which we have grown to respect and trust them. We know that we are leaving our employees and customers in good hands and able to face the challenges of the future with Stewart’s and the Dake family. Knowing that Stewart’s is a locally-owned family business only adds to our contentment with this transaction.”
Red-Kap (Redmond-Kaplan) was initially formed in 1933. According to the company website, Red-Kap has more than 60 employees and sells more than 60 million gallons of gasoline and diesel annually, and includes a fleet of five 12,000 gallon trucks.
“Both organizations come from long local family histories that have helped form the communities where we live,” said Stewart’s Shops president Gary Dake. “The acquisition will add eight corporately run locations and a significant addition of gasoline supply and distribution to local stations. Stewart’s prides itself on vertical integration and support. In the age of Covid, with an ever-changing business climate, we look forward to extending this support to the Distributor/Dealer network.”