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Corner Capital Advisors Assists Sale of Convenience Store Chain, Supply Contracts

Denny Oil Co. Inc., owner of the Check Point convenience store chain operating throughout East Texas and West Louisiana, recently closed a transaction with certain affiliates of Sunoco LP to sell the stores.

The Nacogdoches, Texas-based chain primarily distributes Exxon- and Shell-branded fuel.

Also included in the sale are Check Point’s network of company-owned, dealer-operated convenience stores; its commercial fuels and lubricants business; and 126 dealer accounts to which the company supplied branded and unbranded fuel.

Terms of the deal were not disclosed.

The Check Point stores will be reimaged to the Stripes brand, and the dealer locations will retain their current fuel brands through Sunoco’s wholesale branded fuel marketer agreements.

Santa Barbara-based Corner Capital Advisors LLC provided valuation and strategic M&A advisory services throughout the process to Denny Oil Co. and its CEO, Dick Rudisill.

“The team at Corner Capital provided invaluable assistance to our company and our family throughout our entire process,” Rudsill said. “Their expertise and professionalism helped get a complicated transaction across the finish line.”

Dallas-based Sunoco LP (NYSE: SUN) is a master limited partnership that operates approximately 1,300 retail fuel sites and convenience stores (including Stripes, Aloha Island Mart, APlus and Tigermarket brands) and distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors located in 30 states at approximately 6,800 sites. Its parent — Energy Transfer Equity LP (NYSE: ETE) — owns Sunoco’s general partner and incentive distribution rights.

Corner Capital provides specialty advisory services for all refined products and to all constituencies in the downstream energy industry, including convenience store chains, fuel wholesalers and distributors, lubricant retailers and distributors, propane and heating oil distributors, and storage and transportation companies, private equity firms and lenders, among others.

Click here for more information about Corner Capital Partners LLC, parent company of Corner Capital Advisors LLC.

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