Bob Bolduc and ArcLight Capital Partner announce that the Pride retail chain of stores has been sold to an affiliate of ArcLight for an undisclosed amount.
Based in Springfield, Mass., the Pride chain totals 31 convenience stores and travel centers, 8 vacant parcels for future development, 15 Subway franchises and 15 Chester’s Chicken franchises. All are located throughout Western Massachusetts and Northern Connecticut.
“The Pride stores are high-quality sites with a history of exceptional performance. Their progress into electrical vehicle charging infrastructure will be a great fit with ArcLight’s energy transition focus,” said Collin Krehbiel, Vice President at ArcLight. “We look forward to working and growing with the entire Pride team.”
Founded in 1917 by Bob Bolduc’s grandfather as a horse and carriage business, Pride recently celebrated its 100th anniversary. Pride is well known for friendly service, clean and professional facilities, signature fresh and healthy foods, and competitively priced gasoline and diesel fuels.
Bob Bolduc is particularly pleased that he found a buyer who would keep the company and their employees intact and continue to provide them with future advancement and growth potential. “Our employees and our community are family,” said Bolduc. “They have always been here for us, and I am pleased that Pride will continue to acknowledge and repay that loyalty.”
ArcLight will continue to use the Pride name. Marsha Medina, Pride’s president for the last 10 years, will act as President and Chief Executive Officer of Pride.
