VERC Enterprises, the family-owned Duxbury, Mass.-based convenience store chain, announced the sale of its 32 convenience stores to multiple buyers in the industry.
Leo Vercollone, CEO of VERC Enterprises, said that the buyers of the VERC sites include Energy North Group, Global LLP, and one unspecified buyer. Not included in the sale are two Briteway Car Wash locations, one in Marshfield and one in Norwell, which will remain under the ownership of the Vercollone family. Paul Vercollone, current co-owner and Vice President of VERC Enterprises, will continue to operate these locations with his sons Nick and Chris.
VERC Enterprises was first established in 1977 by Eugene Vercollone, father of present owners Leo and Paul Vercollone. The company began as a single car wash in Marshfield, MA and grew to become a major independent operator of convenience stores/gasoline stations throughout Massachusetts and New Hampshire. All of the company’s stores have operated under the VERC brand name and sold gasoline under leading fuel brands including Gulf, Mobil, Irving and Shell.
“While the decision to sell was a difficult one, we know that the stores will be operated by organizations that share the same values, purpose and commitment to service,” Leo Vercollone said. “We sincerely thank all of our wonderful customers we have had the pleasure of serving throughout our years in business. And we extend our deepest thanks and appreciation to our associates who have been the engine and backbone of our company. We are so very thankful for their hard work and dedication.”
Since the company’s inception, VERC Enterprises has made employee engagement and community involvement key tenets of their business. Over the years, VERC has partnered with a number of community organizations in order to help provide employment and opportunity for Intellectually and Developmentally Disabled (IDD) individuals. Through its partnership with these community organizations, VERC Enterprises achieved its goal of having 20% of its convenience store workforce staffed by associates from the IDD community.
In 2019, CEO Leo Vercollone received the May Institute President’s Award for recognition of the company’s longstanding commitment to employing individuals with special needs. The company was additionally recognized by the Boston Business Journal as a Best Place to Work in Massachusetts, and as a Leader in Diversity. In 2017, VERC was named Employer of the Year by both the Massachusetts Commission for the Blind and The ARC of Greater Plymouth, and Employer of the Year for Hopeful Journeys in 2017.
Raymond James & Company, Inc. provided merger and acquisition advisory services to VERC. Rubin and Rudman LLP served as legal advisor to VERC throughout the transaction.
Aside from it’s work with Intellectually and Developmentally Disabled individuals, VERC has established itself as an outstanding employer and corporate citizen. Last November, VERC Enterprises was been named one of the ‘Top Places to Work’ in Massachusetts in the 13th annual employee-based survey project from The Boston Globe.
The ‘Top Places to Work’ recognizes the most admired workplaces in the state voted on by the people who know them best — their employees. The survey measures employee opinions about their company’s direction, execution, connection, management, work, pay, benefits, and engagement. The employers are placed into one of four groups: small, with 50-99 employees; medium, with 100-249 workers; large, with 250-999; and largest, with 1,000 or more employees.
