Smoker Friendly has completed a minority recapitalization and debt restructure with Main Street Capital Corporation. The recapitalization does that affect the current ownership of the company, keeping the company owned and operated by the Gallagher family and its current management team.
Smoker Friendly was founded in 1989 by the Gallagher family who at the time owned Gasamat and a group of family-owned candy and tobacco wholesale distributors in the Rocky Mountain region and the Midwest. Smoker Friendly has been wholly owned by the Gallagher family since 2005. Smoker Friendly has over 160 retail stores across 7 states that operate as tobacco stores, cigar lounges, liquor stores and fuel outlets. The company also owns a full line private label tobacco brand that is sold in additional 700 stores. In the last 14 months, Smoker Friendly has acquired 33 Smokers’ Outlet stores in Missouri, 22 Tobacco Road Outlet locations in North Carolina and 3 Smoker Friendly dealer stores in North Carolina.
Smoker Friendly CEO Terry Gallagher commented: “I look forward to our partnership with Main Street Capital and believe it will be very beneficial to our company and strengthen Smoker Friendly, allowing the company to accelerate and execute acquisitions across the country. The strategic investment by Main Street will continue to fuel our growth and allow us to expand into new markets and grow in existing.