For Immediate Release
December 14, 2023
PITTSBURGH, PA – Cleopatra Resources LLC announced today the sale of substantially all the convenience retail assets of its wholly owned subsidiary, American Natural Retail PA LLC (the “Company”), to Giant Oil. The transaction included 11 company-operated convenience stores, with an additional two company-operated retail locations scheduled to close in 2024.
In an environment of rapidly changing consumer dynamics, technological innovation, retail food preferences, and transitional fueling habits, the American Natural (AN) retail brand offers mobile consumers an elevated food experience and carbon-friendly alternative fuel options. American Natural CEO, James Bromley, stated: “American Natural has been proud to serve customers across Western PA for the last 11 years and we are grateful for their loyalty and support. Further, we are thankful for our employees’ service over the years and remain excited for their future as they become part of the Giant family. Giant Oil has a best-in-class leadership team and a very strong organizational culture. We are also pleased to commend our advisory firm, Corner Capital, who helped us navigate through every step of the transaction process, and we appreciate their “hands-on” service, and industry expertise.”
“It was a pleasure for Giant to work with American Natural during this transition and is excited to welcome the American Natural team to the Giant family. The expansion into the Pennsylvania market marks an exciting new chapter in Giant’s journey and furthers the commitment to its mission of providing exceptional services to its customers, and this acquisition represents a significant step towards achieving that goal,” said a Giant Oil spokesperson.
Corner Capital served as Cleopatra Resources’ exclusive financial advisor and rendered investment banking services in addition to commercial real estate brokerage services through its affiliate, Corner Realty. The transaction was managed by Sean Stewart, CFA, Andy Weber, and Nick Stricker, CPA. Sean Stewart of Corner Capital stated: “Our team enjoyed working with American Natural throughout the sale process. We are grateful to have earned their trust to help them navigate a complex retail segment divestiture.”
FOR FURTHER INFORMATION
P. A. Weber III (Andy), Corner Capital, email@example.com
Sean Stewart, CFA, Corner Capital firstname.lastname@example.org
About Giant Oil
Giant Oil Inc. is a petroleum marketer spanning both the convenience retail and dealer fuel supply business. Giant operates and franchises its proprietary convenience store brand, On The Fly, a driving force in the convenience store space. Giant has been in the industry since 1995, with stores across Florida, Indiana, Ohio, and Kentucky. Giant partners with industry leaders including BP, Chevron, ExxonMobil, Sunoco, Texaco, Amoco, and Marathon.
About Corner Capital
Formed in 2006, Corner Capital provides national transaction advisory services to all constituents in the Downstream Energy, Multi-Unit Retail, Business Services, and Distribution industries. Our national market coverage serves clients with staff in Texas, California, and Florida. For more information, please visit http://www.cornercapitalpartners.com/ or contact P. A. Weber III (Andy) at email@example.com, (805) 965-5510.