01.18.18 Thursday
Pester Marketing Company Acquires Market Competitor
By: P. A. (Andy) Weber III

Denver, CO. (January 18, 2018) – Western Convenience Stores, Inc. has announced the sale of all of its convenience stores and gasoline stations to Denver-based Pester Marketing Company today. Western currently operates 42 locations in and around Denver, Colorado Springs, Pueblo, Grand Junction, Colorado mountain resort locations and Western Nebraska.

Commenting on the acquisition, Rich Spresser, President of Pester Marketing Company said, “We are extremely pleased to significantly expand our presence in our hometown market, and to introduce our services and products to Western’s customers. We welcome Western’s employees into our family as well, and are excited about our combined future.”

Denver-based Pester Marketing Company operates 119 stores in Colorado, Nebraska, New Mexico, and Kansas under the Alta, Kwik Stop, and Pioneer store brands. The Company also provides motor fuel products under several national and regional brands including Phillips 66, ExxonMobil, Shell, and Alta Fuels. Pester Marketing Company retained Corner Capital Advisors, LLC (www.cornercapitaladvisors.com) as its exclusive advisor for the transaction with financing facilities secured through Crow Holdings Capital Partners.

Western was founded in 1989 by Hossein Taraghi with a single convenience store. He grew the company from 1990 to 2011 through the strategic acquisition of existing convenience store locations, culminating in the 42 stores which the company operates today.

Western Convenience Stores will be rebranded under the Phillips 66 brand, and be integrated into Alta Convenience Stores' brand platform. The acquisition represents a large increase in Pester Marketing Company’s current footprint in their states of operation, as well as a stronger relationship with Phillips 66.

“This was an exciting deal to be a part of, and represents a strong, strategic acquisition for Pester Marketing Company’s current operations,” Kevin Henrick, Senior Associate at Corner Capital, added, “We were thrilled to be of assistance to the people of Pester Marketing Company, and are eager to see them continue their growth strategy going forward.”

Contact: Corner Capital Partners, LLC (805) 965-5510

About Corner Capital

Since 2006, Corner Capital has been providing 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, storage and transportation companies, institutional investors, and lenders.

For more information, please visit www.cornercapitalpartners.com or contact P. A. Weber III (Andy) at [email protected]

<< back to blog
“Corner Capital successfully negotiated and facilitated my refi project and helped me find additional capital to support my ongoing growth plans. They managed all aspects of the project very well and I would not hesitate to use them again or to recommend them to other marketers.”
-Carlos Garza, La Lomita
“Corner Capital demonstrated patience and persistence in our negotiations over a year’s time, solving a complex structuring project. The end result was a tremendous amount of value and a great long-term relationship.”
-Rene Anabi, Anabi Holdings North Master, LLC
“Lard Oil recently engaged Corner Capital Advisors on two projects, first to assist in an acquisition opportunity and the other to manage the process to refinance our Sr. term and revolver facilities. The CCA team brought a wealth of knowledge and expertise and did so under our strict timelines and expectations. I have no reservations of recommending their firm and intend to engage with them as other opportunities present themselves.”
-Johnny Milazzo, President and CEO – Lard Oil Co., Denham Springs, LA
“Corner Capital led us through a strategic analysis of our branded dealer business, interfacing with our Board throughout. When the Board determined to exit that segment, Corner Capital expeditiously executed our structured sale process and outperformed our value expectations.”
-Ken McPherson, The McPherson Companies, Alabama
“The folks at Corner Capital demonstrated great leadership and industry knowledge managing our financing requests. I was able to consolidate my debt structure, reduce costs, and create capacity to meet our growth needs. I’ve recommended them to my peers and my customers.”
-Jeffrey Magness, Magness Oil Company
“On several occasions, we were approached with different opportunities to exit the industry. Before giving any real consideration to any of those options, my family engaged Corner Capital to provide a Fair Market Valuation for our business. As a result, we furthered our engagement to allow Corner Capital to manage the structured process for our exit strategy. Their knowledge, industry experience, and personal touch provided Lois and me the comfort needed to successfully close our transaction with Sunoco. Without a doubt, a wise decision on our part to bring the Corner Capital team into our process.”
-Jim Kolkhorst, Kolkhorst Petroleum & Rattlers Convenience Stores, Texas
“Andy Weber and his team at Corner Capital have done exceptional work supporting transactional, valuation, and various proprietary initiatives at our companies. Andy’s extensive industry experience, technical competence, and practical "real world" approach is a valued resource to our organization. The Corner Capital team consistently delivers-----and always in a most timely and impactful manner.”
-M.J. Castelo, Managing Member & President – Andretti Petroleum LLC / Peninsula Petroleum LLC / Humboldt Petroleum Inc.