The Bailieboro convenience store has been acquired by a significant operator of gas bars, convenience stores and hotel franchise.
Signs of life appeared at the gas bar and retail outlet at the corner of Carmel Line and County Rd. 28 a few months ago.
After years of being shuttered, the exterior was cleaned up and a new sign announced a new business was opening called K2mart. It began to operate as a convenience store with an LCBO product line, and two weeks ago a post office outlet for Bailieboro opened inside the store, replacing the one on County Rd. 2 that had closed down in September.
As the new sign indicates, this outlet has changed hands. It is now owned by a Toronto-based privately-held investment company with an extensive portfolio of real estate and alternative investments called the K2 Group. On its website, the firm describes its business strategy as creating and investing in early-stage businesses in the hospitality, petroleum and real estate sec-tors. The K2mart portfolio identifies a group of privately-owned and operated gas stations and lists Esso and Shell as their petroleum brands. Among the other investments held by the parent firm are hotels such as Four Points Sheridan, Ramada, Best Western and Holiday Inn Express and food franchise outlets such as Pizza Pizza, Tim Horton’s, McDonald’s, KFC, Taco Bell and Mr. Sub.
The firm was founded by Kailash Kasal who began his business endeavors with a successful chain of convenience stores in Toronto. For the past 25 years he is reported to have expanded his business interests, developing a portfolio of gas stations and acquiring a portfolio of branded hotels in Ontario and Quebec.
The retail outlet in Bailieboro offers a wide variety of convenience store products with more than a third of its shelving devoted to alcohol products. The building was selected to house the Bailieboro post office because of its central location and its generous storage area in the rear. There are plans to reopen the gas bar store when permissions are received. K2mart also owns the location currently occupied by Black Eyed Susan Chip Truck. Given the parent’s food outlet connections, a new food brand at this location is quite likely.
The store is open seven days a week from 9am to8pm. Welcome to Bailieboro, K2 Group! We are excited to see how your business plan for this quiet corner of the County evolves.