Rusher Oil Co. distributed Amoco and BP fuels to 19 branded convenience stores and one commissioned marketer location within a 20-mile radius of its Salisbury, N.C., headquarters. Rushco Food Stores, Inc. operated 19 branded convenience stores under the name Rushco Markets.
W.H. Rusher and Son, and later Rusher Oil Co., was founded in 1963 by W.H. Rusher after many years as a commission marketing agent with Amoco Oil Co. Rusher, under the leadership of Bob L. Rusher reoriented the company towards retail fuel sales, purchasing some of the most desirable real estate in its marketing territory for service stations, and expanded the gasoline marketing side of the business.
Bobby Rusher and Joey Rusher joined the business in the 1980s and over the next several years continued to grow by building new-to-industry stores and remodeling older locations into larger facilities. During this time, Rushco Food Stores Inc. was organized and became a successful chain of retail convenience stores and car washes. Today, Rushco Food Stores Inc., known as Rushco Markets, is one of the leading brands in its marketing territory which includes a network of high-quality convenience stores offering BP and Amoco branded motor fuels.
Sampson-Bladen Oil Company Inc. was founded in 1936 and now, as a fourth-generation, family-owned enterprise, has grown into a business operating convenience stores, quick serve restaurants, car washes, a wholesale fuel division and a lubricants division. With the purchase of the Rushco Markets, Sampson-Bladen’s store count has increased to 109 stores. Haddon M. Clark, president, saw a natural fit with the opportunity to add the Rushco Markets to the footprint.
“The Rusher family operated quality stores, and we are honored they selected us to carry on in their communities,” said Clark. “I thank all the people that contributed to the smooth transition of the changeover.”
Independent investment bank Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to Rusher, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the transaction.
The transaction was managed by Managing Director Vance Saunders, Vice President John Duni and Analyst James Mickelinc.
“Three generations of the Rusher Family have worked hard to create the exceptional business that exists today,” Saunders said. “We’re honored to have been selected to advise the Rushers on such an important transaction for their family. We wish them all the best in their future endeavors.”