Denny Oil Company, Inc.

Service Type: M&A

Client: Denny Oil Company, Inc. (various real estate holding companies, Denny Transport, LLC)

Client Description: Six (6) company-operated ‘Check Point’ c-stores; dealer operated stores; 126 branded/unbranded dealer accounts; commercial and lubricants businesses.

The Trigger:

  • For family and competitive reasons, the Company decided to explore its market value and a potential structured sale. The Principal also owned, outside of the business, other business holdings and commercial real estate.

The Project:

  • The Company had its start in 1972 and served over 350 retail and commercial customers throughout Texas, including the metropolitan areas of Dallas and Houston, and Louisiana.
  • After performing a Fair Market Valuation for Denny Oil Company, the Principal decided in the Company’s best interest to divest of the Company’s assets through a structured sale process with Corner Capital.

The Solution:

  • Corner Capital executed a highly competitive structured sale process to a discrete target group, to ensure confidentiality and expedite the timeline to closing.
  • All assets of the Company and its business lines were marketed along the Company’s three primary business lines – Convenience Retail, Dealer Fuel Supply, and Commercial Fuels & Lubricants.
  • To optimize the value of the transaction, the buyers could purchase single or multiple business lines in the transaction.

The Result:

  • The Company’s operations were successfully marketed and sold to a single buyer.
  • Sunoco LP was selected as the sole-purchaser, and will reimage all Check Point stores to the Stripes® Brand.