WESTBOROUGH, MA— Cumberland Farms has reached an agreement to acquire Coen Markets, a family-owned convenience store and gas station operator with 57 locations across Pennsylvania, Ohio, and West Virginia, according to reports by the Worcester Business Journal and industry announcements.
The deal includes 54 existing stores and three additional locations currently under development. Financial terms were not disclosed, and the transaction is expected to close later this year pending regulatory approvals.
“This acquisition is a clear expression of our commitment to disciplined growth in the U.S. — our largest market by both sites and revenue,” said Russ Colaco in a company statement, as reported by the Worcester Business Journal. “Charlie and Andy McIlvaine have built an exceptional business defined by well-invested sites and an exceptional customer experience anchored by their foodservice offering.”
Headquartered in Canonsburg, Pennsylvania, Coen Markets was founded in 1923 and is one of the oldest and largest convenience store chains in the Pittsburgh region. The company is currently led by Chairman and CEO Charlie McIlvaine and President Andy McIlvaine.
“Our success is a team effort,” Charlie McIlvaine said in the announcement. “Every one of our senior leaders and our team members have embraced our vision and made our convenience offer stand out. This brings us tremendous pride, and we have confidence that Cumberland Farms will continue that.”
Andy McIlvaine added that the partnership positions the company for future growth, noting that Coen Markets’ business model and customer-focused offerings could expand further under Cumberland Farms’ ownership.
The acquisition aligns with Cumberland Farms’ broader strategy to grow through targeted, value-driven investments, combining Coen Markets’ regional footprint and foodservice operations with its existing U.S. network.
Cumberland Farms, which operates approximately 575 locations across the Northeast and Florida, is owned by EG Group, a global operator of gas stations and convenience stores. The company has been expanding its U.S. presence since EG Group acquired Cumberland Farms in 2019.
It remains unclear whether Coen Markets locations will retain their branding or be converted to Cumberland Farms stores.
