Sun State Oil to supply fuel to the multiple new owners that acquired the 30 properties. NRC Realty & Capital Advisors LLC’s subsidiary, NRC Realty Advisors of Florida LLC, has completed the sale of the final 30 properties formerly owned and operated by Ryan Phillips (Phillips Oil) and located in the panhandle of Florida. Sun…
7-Eleven Converts Wilson Farms Stores
Nine Wilson Farms stores are changing banners this year, with the rest scheduled for rebranding next year. Contractors are refurbishing; new signs are rising, and Slurpee machines are moving in as 7-Eleven Inc. undertakes the first of many equipment upgrades at Wilson Farms stores in western New York, converting them to the 7-Eleven banner. Starting…
Delek US Acquires Remaining Interest in Lion Oil
“We have increased flexibility with which to pursue a wider range of strategic initiatives capable of unlocking value for our shareholders,” says Delek US Holdings CEO. Delek US Holdings Inc., a diversified energy company with assets in the petroleum refining, marketing and retail industries, has acquired the remaining 11.7% minority equity interest in Lion Oil…
Marathon Petroleum Hungry For Acquisitions
Following its separation from Marathon Oil Corp., Marathon Petroleum is now preparing to grow its Speedway brand. Marathon Petroleum Corp., which spun off from Marathon Oil Corp. last month, is searching for acquisitions and seeking assets that meld with its strategy of refining oil and distributing the fuels produced, Reuters reported. “We have an appetite…
Kum & Go Announces Major Expansion Into Arkansas
Three new stores are set to be built this fall and 20-25 new Arkansas locations are anticipated over the next five years. Kum & Go has announced aggressive expansion plans into Arkansas, where the chain plans to invest $70-80 million in the next five years and aims to create approximately 150 new jobs by the…
Chevron To Acquire Atlas Energy
Chevron Corp. is acquiring Atlas Energy for $3.2 billion in cash and assumed pro forma net debt of approximately $1.1 billion. The acquisition will provide Chevron with an attractive natural gas resource position primarily located in southwestern Pennsylvania’s Marcellus Shale. The acquisition is subject to certain Atlas Energy restructuring transactions, approval by Atlas Energy shareholders…
Couche-Tard Raises Bid
Alimentation Couche-Tard Inc. has increased its tender offer for Casey’s General Stores to $38.50 per share in cash, as Casey’s responds by advising its shareholders not to take any action as it reviews the revised bid. The revised offer of $38.50 is $0.50 per share higher than the price at which a majority of outstanding…
Tiger Management Acquires 26 Exxon Stations
Tiger Management Groups LLC, owned by Chattanooga, Tenn. businessman Lyle Finley, has acquired 26 ExxonMobil gas stations in the Nashville area, The Tennessean reported. Finley already owns and operates 11 Exxon gas stations, and this new purchase grows his store count to 37 locations. The purchase also puts Irving, Texas-based Exxon closer to its…
Walgreens Finalizes Duane Reade Acquisition
Walgreen Co. has completed the acquisition of Duane Reade Holdings Inc. The transaction includes all 258 Duane Reade stores in the New York City metropolitan area, as well as Duane Reade’s corporate office and two distribution centers. “Just as Walgreens has been a trusted community pharmacy for more than 100 years, we plan for Duane…
Florida Holdings Acquires 24 BP Stations
Scottsdale-based Florida Oil Holdings LLC bought 24 BP locations in Florida’s Lake, Orange and Osceola counties between March 8-11 for $33.5 million, marking its entry into the Central Florida market, the Orlando Business Journal reported. The stations were purchased in separate transactions under different business entity names. In acquiring the stores, the firm signed a…