October 11, 2016 - Nacogdoches, TX / Santa Barbara, CA
Denny Oil Company, Inc., owner of the Check Point convenience store chain, is pleased to announce that it has closed a transaction with certain affiliates of Sunoco LP to sell its Check Point convenience store chain that operates throughout East Texas and West Louisiana, primarily distributing Exxon and Shell branded fuel, its network of Company-owned, Dealer-operated convenience stores, its commercial fuels and lubricants business, and 126 dealer accounts to which the company supplied branded and unbranded fuel. The Check Point stores will be reimaged to the Stripes brand, and the dealer locations will retain their current fuel brands through Sunoco’s wholesale branded fuel marketer agreements. Corner Capital provided valuation and strategic M&A advisory services throughout the process to Dick Rudisill and Denny Oil Company.
Dick Rudisill, CEO of Denny Oil Company, commented, “The team at Corner Capital provided invaluable assistance to our company and our family throughout our entire process. Their expertise and professionalism helped get a complicated transaction across the finish line.”
In assisting Denny Oil Company, Carl Ray Polk, Jr. stated “I’ve known the Rudisill family for decades – we appreciate their trust in helping them with this process. Dick Rudisill built a great company that will be in good hands as our industry continues to evolve.”
Dallas-based Sunoco LP (NYSE: SUN) is a master limited partnership that operates approximately 1,300 retail fuel sites and convenience stores (including APlus, Stripes, Aloha Island Mart and Tigermarket brands) and distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors located in 30 states at approximately 6,800 sites. Its parent -- Energy Transfer Equity, L.P. (NYSE: ETE) -- owns Sunoco’s general partner and incentive distribution rights. For more information, visit the Sunoco LP website at www.SunocoLP.com.
Corner Capital provides specialty advisory services for all refined products and to all constituencies in the Downstream Energy industry including convenience store chains, fuel wholesalers and distributors, lubricant retailers and distributors, propane and heating oil distributors, and storage and transportation companies, private equity firms, and lenders among others.