Charleston, S.C.-based Refuel Operating Co. this week closed on its acquisition of Texas-based Wag-A-Bag’s c-store and retail fuel business. Headquartered in Round Rock, Texas, Wag-A-Bag owns and operates 16 locations in the Austin market.
Refuel CEO Mark Jordan said his company looks forward to welcoming Wag-A-Bag employees to the Refuel family.
“In addition, we are excited about expanding Refuel’s network of stores into the very attractive and rapidly growing Central Texas market,” he added. “We are thrilled to add such an exceptional business to the Refuel platform.”
The Rabb family founded Wag-A-Bag in 1964 and the chain continued to be family-owned until the Refuel purchase.
“I am happy that my family’s business will be in good hands with Refuel, and that my employees have a bright future with a growing company,” said Wag-A-Bag CEO Cary Rabb. “I am confident Refuel will continue to provide our customers a first-class experience with our world class staff.”
The transaction represents the seventh acquisition for Refuel since establishing its partnership in May 2019 with energy-focused global private equity investment firm First Reserve. The deal brings Refuel’s total company operated store count to 130 stores.
Financial details of the acquisition were not disclosed.