The family-owned Holiday Stationstores are being sold to a Canadian company.
The Erickson brothers started Holiday Companies in Minnesota back in 1928, growing the chain to 522 gas station convenience stores in 10 states. But now it's being sold to Alimentation Couche-Tard for an undisclosed amount of cash.
The deal was announced Monday and is expected to close in 2018, but is subject to regulatory approvals. The Canadian-based company says it plans to operate Holiday from its current Bloomington, Minnesota, headquarters.
"We are pleased to entrust Couche-Tard with carrying forward the Holiday brand and our highly successful programs," Ronald Erickson, Holiday's chairman and CEO, said in a statement. "Our 90-year history and our promising future are being placed into excellent hands."
Brian Hannasch, the president and CEO of Alimentation Couche-Tard, said the Erickson family has "created one of the strongest, well run companies" in the northern U.S., and they're "pleased to welcome the Holiday brand and its highly successful programs to the family."
After the sale is complete, Couche-Tard will have a network of 14,000 stores in the U.S. and Europe.
Holiday employs nearly 6,000 people and is considered one of the largest privately owned companies in Minnesota, according to the Business Journal. It was listed at No. 133 on Forbes' ranking of America's largest private companies.
This is the second major deal for the Erickson family in the past few months. They owned part of Gratco, which owned Gander Mountain until it was sold this spring.