Monday, June 18 , 2018, 4:35 pm | Fair 69º

 
 
 
 

Business

Corner Capital Advisors Helps Texas Company with Sale of Convenience Store Chain

Kolkhorst Petroleum Co., the Navasota, Texas-based owner of the Rattlers convenience store chain, recently closed a transaction with certain affiliates of Sunoco LP to sell its 14 Rattlers convenience stores that operate throughout Central and South Texas.

The stores primarily distribute Exxon-, Shell- and Valero-branded fuel and 34 dealer accounts to which the company supplied branded and unbranded fuel.

The Rattlers 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.

The Kolkhorst family will retain and continue to operate their commercial fuel, bobtail and lubricant business with the headquarters remaining in Navasota. Santa Barbara-based Corner Capital Advisors LLC provided valuation and strategic M&A advisory services throughout the transaction process.

“We are pleased to transition the majority of our employees to a company of Sunoco’s caliber,” said Jim Kolkhorst, CEO of Kolkhorst Petroleum. “With Sunoco’s strong leadership and proven track-record in the industry, we are confident that our team will benefit greatly from this acquisition with a growth-oriented company.”

Corner Capital assisted Kolkhorst Petroleum with the acquisition process.

“We are very pleased and honored that the Kolkhorst family entrusted Corner Capital to assist with the sale of their business,” said Carl Ray Polk Jr. of Corner Capital. “We are also excited for Sunoco’s opportunity to benefit from the legacy of customer service and community involvement that the Kolkhorst family’s stores and people have provided since 1972.

“It has been a pleasure to work with both the Kolkhorst family and Sunoco’s team throughout this project.”

Dallas-based Sunoco LP (NYSE: SUN) is a master limited partnership that operates approximately 1,300 retail fuel sites and convenience stores (including Aloha Island Mart, APlus, Stripes 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.

Sunoco’s parent, Energy Transfer Equity LP (NYSE: ETE), owns Sunoco’s general partner and incentive distribution rights.

Corner Capital Advisors LLC is a national advisory firm specializing in downstream energy since 2006. It provides M&A and specialty advisory 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 transportation companies.

Click here for more information about Corner Capital Advisors LLC.

 

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