Winnsboro Petroleum Co. announced the successful completion of the sale of its 24 Shell and CITGO branded Pops Mart convenience stores located in the greater Columbia, S.C., market to Don Draughon and JD Dykstra.
Winnsboro Petroleum Co. was a multi-generation petroleum marketer with deep ties to the Columbia market. Bill McMaster, owner and CEO, represented the third generation of the business.
“Given the changing nature and sophistication of the convenience store industry over these past years, it became apparent that selling the business was the best option of our family and our employees,” said McMaster. “Selecting Don and JD as our buyer made optimal sense since they were committed to preserving our entire staff to support their new store acquisition platform.”
Draughn and Dykstra formed a new entity entitled Pops Mart Fuel to complete the acquisition. All Winnsboro Petroleum employees who wanted to stay were retained at closing, including the Support Center personnel. Pops Mart Fuel plans to continue growing through acquisitions and is actively seeking opportunities.
PetroActive Real Estate Services provided exclusive advisory services to Winnboro for this transaction.
“This was a total team effort on our part to help navigate this transaction to a successful conclusion,” said Mark Radosevich, president of PetroActive Services. “We sincerely appreciate the opportunity afforded by Bill McMaster to allow our firm to represent his company and we wish him the very best of good health and good fortune in the years ahead.”