The convenience stores, located in North Dakota and Minnesota, are expected to continue to operate under the Valley Dairy banner.
PetroServe USA has completed its previously disclosed acquisition of nine convenience stores located in North Dakota and Minnesota.
PetroServe USA expects these convenience stores, known as Valley Dairy stores to remain as Valley Dairy given its longevity and reputation in the Grand Forks area. PetroServe USA, based in West Fargo, Minn., presently has 23 stores in North Dakota and Minnesota.
Valley Dairy’s roots date back 50 plus years. In 1964 the Frank Schmidt family became involved with the business and stayed involved until 1988 when his daughter Monica Musich joined the company and in 2000 became its president and CEO.
“It’s a little bittersweet, but I’m so excited about who’s taking over,” Musich said. “They’re such great people and we have been friends for many years and I have always been impressed as to how they operate their stores.”
PetroServe USA has been a pioneer with renewable fuels and was honored by the American Coalition for Ethanol (ACE) with its “Paul Dana Marketing Vision Award” for its marketing efforts with its “Helping America Fuel Better”campaign. The PetroServe USA stores have 16 Hot Stuff Pizza units and operate under Cenex, Tesoro and PetroServe USA brands of fuel.
Musich said what she will miss the most about the sale of her convenience stores is wonderful employees who have helped her become the success she has and the community involvement that she has been able to perform while owning the stores, including with the Salvation Army, St. Jude’s Children’s Hospital, the ALS association, the Amelia Grey Humanitarian Scholarship, Cystic Fibrosis, and Breast Cancer Awareness Month with proceeds to the Altru Cancer Center.
Terry Monroe of American Business Brokers & Advisors, based in Effingham, Ill. and Bill Fecht of W.J.F. Services Inc. based in Normal, Ill. provided merger & acquisition advisory services to Valley Dairy and Musich.
