“Although we devoted our hearts and soul to the successful operation of our stores and were very proud of them, we realized that the future of our company rested in the wholesale side of our business,” says president of McNutt Oil.
PetroActive Real Estate Services LLC announced the successful retail chain divestiture of M G Markets Inc. dba Mr. Gas Markets.
After much analysis and deliberation, the owners of M G Markets decided to shift the focus to their wholesale company, McNutt Oil Co Inc., which sells commercial fuels and lubricants. This necessitated the confidential sale of six of their Marathon-branded Mr. Gas store locations in East Tennessee.
Founded in 1941, McNutt Oil is a proud third generation business serving East Tennessee and one of the few petroleum marketers nationwide to be officially certified as a “Women’s Business Enterprise.”
“Although we devoted our hearts and soul to the successful operation of our stores and were very proud of them, we realized that the future of our company rested in the wholesale side of our business. The decision to sell our stores did not come easily, but we ultimately realized that it was the right course of action for the success of our business into the next generation,” said Clara McNutt, president of McNutt Oil.
PetroActive Services provided merger and acquisition advisory services to McNutt Oil, including business assessment and valuation, confidential marketing, and buyer prospect negotiation. The transaction was managed by Mark Radosevich, the company’s president.
“We are proud that the McNutt family allowed us this opportunity to help re-direct the focus of their company. After analyzing the current and future retail market in East Tennessee and McNutt Oil’s strong aptitude for the commercial business, it became very apparent that an exclusive emphasis on that side of the business was definitely the right way to go,” stated Radosevich.