Royce Groff Oil Co. and Affiliates (RGOC) announced the successful sale of its convenience retail (operating under the “Valley Mart” brand), branded distribution and commercial fuel assets to Texas Enterprises, Inc. (TEI).
RGOC is a branded petroleum marketer and convenience retailer in Medina County, Texas. Founded in 1969 by Royce Groff, RGOC’s long history of marketing branded and unbranded petroleum products has earned the company a stellar reputation within the communities it serves. Royce Groff began his career in the petroleum business on November 1, 1969, when he became a commission agent with the old Humble Oil & Refining Co. — now ExxonMobil. Royce started with one bulk plant and one bobtail delivery truck. Initial customers were farmers, ranchers and other commercial accounts, along with a few small dealer-owned and -operated “Humble” branded service stations. Since 1969, the company’s goal has always been to give customers quality service and products at competitive prices. Today it operates 13 Valley Mart stores, supplies over 70 dealer locations, and delivers commercial fuel and lubricants through five bulk plant facilities in Texas cities Castroville, Jourdanton, Devine, Boerne and Eagle Pass.
Celebrating its 50th anniversary in 2019, the company and its employees (including seven Groff family members) have always been active in the communities they serve in addition to being a reliable supplier of fuels, lubricants and other auto-related products. Long-term participation, leadership and memberships include the St. Louis Catholic Church in Castroville, the Castroville City Council, the Castroville Economic Development Board, the Medina Valley School Board, the Medina Valley Youth Baseball Association, American Legion Post 460, Cub & Boy Scouts and the Castroville Chamber of Commerce. Royce was also named Citizen of the Year for 2019. Royce Groff Oil Co. has been a long-standing member of the Texas Food and Fuel Association (TFFA) and the National Association of Convenience Stores (NACS).
TEI is a fifth-generation family-owned and -operated company. Originally founded by James Link Calhoun (first-generation) in 1921 as Bay Oil Co. in Houston, TEI distributes petroleum and lubricant products with offices across ten locations in Texas and New Mexico. TEI is currently led by Ford Smith Jr. and is headquartered in Austin, Texas. With over 250 employees, TEI serves constituencies across several industries, including automotive, mechanical and construction.
Corner Capital Advisors, LLC provided merger and acquisition advisory services to RGOC, which included valuation advisory, marketing the business assets through a structured sale process and transaction negotiation.