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. 

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 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