New Distributing, Inc. Convenience Retail Assets Acquired

Service Type: Valuation Services, M&A

Client: New Distributing, Inc. and Jayen, Inc. (“New”, or the “Company”)

Client Description: Jayen, Inc., doing business as New Distributing, is a third-generation branded petroleum marketer, convenience retailer, and dealer wholesale fuels distributor headquartered in Victoria, TX.

The Trigger:

• The Client sought retirement from the industry after having grown organically over the course of nearly 65 years.

The Project:

• Corner Capital performed a Fair Market Valuation for Jayen and outlined strategic options. The Company decided to pursue a structured sale process through Corner Capital.
• Corner Capital sourced proposals from each of the potential buyers that it engaged under a non-disclosure agreement and sharing of the marketing material in Corner Capital’s Confidential Information Memorandum & data room. Through two rounds of extensively negotiating the most competitive Letters of Intent, separate undisclosed operating groups were selected as the winning bidders to acquire Jayen, Inc. in Corner Capital’s structured sale of the Client’s business assets.

The Solution:

• Corner Capital worked closely with New Distributing from valuation, sourcing & negotiating LOIs, contractual negotiations, diligence, to closing.

The Result:

• The Client’s convenience retail and dealer wholesale assets were successfully marketed and sold to an separate undisclosed operating groups which closed January 3, 2023.