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.