Smoker Friendly sells off minority stake to Houston investor
BOULDER — The Cigarette Store Corp., the Gunbarrel-based company that owns and operates Smoker Friendly tobacco retail and convenience stores, recently sold off a minority stake in its business to Houston-based investor Main Street Capital Corp.
Main Street paid $51.7 million for an undisclosed portion of SF’s equity, according to the company news release.
Smoker Friendly representatives did not respond to requests for comment Friday.
SPONSORED CONTENT
Exploring & expressing grief
Support groups and events, as well as creative therapies and professional counseling, are all ways in which Pathways supports individuals dealing with grief and loss.
In addition to the investment, Main Street said it has extended a revolving line of credit to SF to be used for working capital.
Main Street is also making additional loan funding available to help Smoker Friendly with acquisitions. SF has been on something of a buying spree of late, acquiring MSMB Inc., a three-store chain in Hickory, North Carolina, last October, and 22 Tobacco Road Outlet stores in North Carolina last February.
Smoker Friendly owns and operates a total of 160 stores across Colorado, Wyoming, Montana, Nebraska, Missouri, Florida and North Carolina. The company employs about 800 workers across its retail network.
© 2021 BizWest Media LLC
BOULDER — The Cigarette Store Corp., the Gunbarrel-based company that owns and operates Smoker Friendly tobacco retail and convenience stores, recently sold off a minority stake in its business to Houston-based investor Main Street Capital Corp.
Main Street paid $51.7 million for an undisclosed portion of SF’s equity, according to the company news release.
Smoker Friendly representatives did not respond to requests for comment Friday.
In addition to the investment, Main Street said it has extended a revolving line of credit to SF to be used for working capital.
Main Street is also making…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!