CStore Decisions

  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • Alcoholic Beverage Playbook
    • Candy Playbook
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Tobacco Playbook
  • Products
    • 2022 Hot New Product Contest
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2021 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization

CHS Sells 33 Cenex Zip Trip Locations to Par Pacific Holdings

By CSD Staff | March 23, 2018

Share

CHS and Par Pacific have entered a branded petroleum marketing agreement for the continued supply of Cenex-branded refined products to the sites.

CHS Inc. has divested 33 of its Cenex Zip Trip convenience stores located in eastern Washington and northwestern Idaho to a subsidiary of Par Pacific Holdings Inc. for approximately $70 million plus the value of inventory at closing.

The sale did not include the 35 Cenex Zip Trip locations in Minnesota, Montana, North Dakota, South Dakota, and Wyoming, which will continue to be owned and operated by the Company.

As part of the sale, CHS and Par Pacific have entered into a branded petroleum marketing agreement for the continued supply of Cenex-branded refined products to the 33 Cenex Zip Trip stores. Additionally, the parties have entered into a separate supply agreement under which an affiliate of Par Pacific will supply refined products to CHS within select markets.

CHS is a global agribusiness owned by farmers, ranchers, and cooperatives across the U.S. In addition to its agriculture, nitrogen production, and food business segments, the Company owns and operates two petroleum refineries and more than 2,500 miles of pipeline.

Through its energy segment, CHS manufactures, markets, and distributes Cenex branded refined fuels, lubricants, propane, and renewable energy products through a network of more than 1,500 Cenex branded retail petroleum outlets in 19 states, including its Cenex Zip Trip chain of convenience stores.

Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to CHS, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by Cedric Fortemps, managing director, Robbie Radant, director and Stephen Lynch, vice president. John Duni, associate, and Kyle Tipping, analyst, also advised on the transaction.

“We couldn’t be more pleased with Matrix for their proven industry expertise, transactional insights, and dedication to supporting CHS on this project from our initial conversation through closing,” said Nicholas Colbert, director of corporate development for CHS. “Matrix delivered tenfold and our entire team enjoyed working with them.”

Fortemps added, “We greatly enjoyed working with the entire CHS team and appreciate their tireless efforts, which were necessary to close this transaction within the compressed timeline that was desired. We’re extremely pleased that the transaction accomplishes the goals that CHS had set out from the start, including finding a partner that is excited about the future of these retail stores and their employees.”

Michael Kuhn of Ballard Spahr LLP served as legal counsel for CHS.

Related Articles Read More >

Young Leaders Will Determine Future Success
Yesway Yields $1 Million Lottery Winner
Parker’s Holds High Regard from Consumers
Mountain Express Oil Partners with VM Petro
Safe Shop Assured

CStore Decisions Newsletter

Sponsored Content

  • Create Some Positivity at the Pump: 3 Ways to Fuel Customer Experiences
  • How Minuteman Food Mart Ensures a Consistent Customer Experience Across 44 Stores
  • Three Challenges Disrupting C-Store Operations and How to Overcome Them
  • Why Wait? Converting to E15 is easy.
  • It’s time you profited from your checkout line

Get the Magazine

Subscribe Now!
Subscribe Now!

Manage Current Subscription
CStore Decisions
  • New CSD Print Subscription
  • Manage current print subscription
  • CBD Retail Trends
  • CStore Products
  • NAG Convenience Conference
  • Convenience Directions
  • Rack Prices
  • Subscribe to CSD’s E-Newsletter
  • About CStore Decisions
  • Advertise

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search CStore Decisions

  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • Alcoholic Beverage Playbook
    • Candy Playbook
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Tobacco Playbook
  • Products
    • 2022 Hot New Product Contest
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2021 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization