ANDERSON — Giant Eagle Inc. on Monday announced it has successfully competed the acquisition of Ricker Oil Co. Inc.
"Today is a very special day because we welcome more than 800 new team members to our Giant Eagle family, and begin work to bring together Ricker's and GetGo into a leading food-first convenience retailer in Indiana," Giant Eagle President and CEO Laura Karet said in a statement.
Jay Ricker announced plans to sell the company's 56 convenience stores and gas stations to Pittsburgh-based Giant Eagle Inc. supermarket chain in late September. Financial terms of the sale were not disclosed.
Ricker could not be reached Monday to comment on completion of the sale.
Giant Eagle operates 200 supermarkets and 210 convenience store/gas stations in five states. The company entered the Indiana grocery and gas and convenience store market in October 2015 with the opening of a Market District store in Carmel.
The company operates seven GetGo Cafe & Markets in the Indianapolis metropolitan area.
At the time the sale was announced Giant Eagle said there were no immediate plans to change the GetGo or Ricker’s store experience.
“Ricker’s has proudly served the Indiana community for nearly 40 years, and we are so excited to have found a partner in Giant Eagle and GetGo who shares the people-focused values we hold so dearly,” said Ricker's President and CEO Quinn Ricker when the sale was announced. “We believe strongly that the coming together of our two businesses will be a seamless, and extremely positive, experience for employees, customers and business partners alike.”
Quinn Ricker is scheduled to join Giant Eagle and oversee the company's Indiana properties.
Jay and Nancy Ricker founded the company out of their home in Middletown in 1979. They opened their first convenience store a decade later and eventually moved the company headquarters to Anderson.
News of the sale surprised not only local business and government leaders, but also convenience store industry observers who said while comparatively small, Ricker's had a reputation for being an innovative company, particularly in the uses of new technology.
"At GetGo, our positioning of taking the 'cons out of convenience' means we offer the highest quality fresh foods, products and services to our customers," Giant Eagle Executive Vice President Polly Flinn said in Monday's news release. "Our acquisition of the Ricker's chain supports this strategy, and we look forward to bringing together the best of both businesses in Indiana."
Over the past couple of years, Jay Ricker has been a strong advocate for updating Indiana's liquor laws to allow convenience stores to sell cold beer and wine. He will serve as a consultant to Giant Eagle to promote change.