Based in Sanford, North Carolina, The Pantry was a leading operator of convenience stores in the Southeastern U.S. that operated under a number of banners including Kangaroo Express, The Pantry, Golden Gallon and Lil Champ Food Store.  In 1999, The Pantry completed an initial public offering (NASDAQ: PTRY).  Freeman Spogli realized its investment in The Pantry through public market transactions from 1999 to 2005.