Carls Oil Co. Divests Assets to Circle K Stores

Circle K acquires four c-stores in northern Illinois.

Carls Oil Co. Inc. and some of its affiliates (the Company) have closed the sale of substantially all assets to an affiliate of Circle K Stores Inc.

The Company, which is headquartered in Hinckley, Ill., owns and operates four convenience stores and gasoline stations and supplies fuel to one additional location. All of the stores and the supply only location are located in northern Illinois on the western outskirts of the Chicago metropolitan area.

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The Company, a third-generation family-owned business, was founded in 1947 and began as a bulk fuel service for farm and fuel oil customers with fuel branded Cities Service.

“My family worked tirelessly to create a group of world-class convenience stores which would be the pride of the communities in which they are located, and we believe that we have accomplished that,” said Randy Carls of Carls Oil Co. Inc. “Consequently, we are extremely pleased that the high standards we have established will be carried on by our buyer, Circle K. Our stores could not have wound up in better hands.”

NRC Realty & Capital Advisors LLC oversaw the sale.

Carls added, “We are extremely grateful to the professional team at NRC Realty & Capital Advisors for their representation of us in the sale process. They helped us navigate all aspects of the transaction and provided critical assistance and innovative solutions in helping us get to the finish line in a very short period of time.”

The transaction was managed on behalf of the Company by Dennis Ruben, executive managing director, and Ian Walker, senior vice president.