Herndon Oil Announces Sale to Tri Star Energy
ABBEVILLE, AL – September 1st, 2021 – Herndon Oil Company announced today that it has sold its Southern Traders convenience retail chain and Shell-branded fuel distribution business to Tri Star Energy of Nashville, Tennessee.
Headquartered in Abbeville, AL, Herndon Oil Company traces its roots back to the late 1950’s when two brothers, C.S. Herndon and A.W. Herndon, decided to supply their own grocery stores with petroleum products. Today, Herndon Oil is an award winning retailer and marketer of Shell branded motor fuels with a portfolio of convenience retail stores across south Alabama and the panhandle of Florida. The Southern Traders stores represent the last retail assets of the Herndon family’s long career in the industry.
Founded in 2000, Tri Star Energy, LLC, is a joint venture between Kimbro Oil Company, The Parman Corporation and Shell Oil. The Kimbro and Jewell families are local to Nashville, Tennessee. Tri Star Energy has become a leading convenience retailer and distributor of branded and unbranded petroleum products throughout the South, especially with their Twice Daily, White Bison and Sudden Service brands. Steve Hostetter, CEO of Tri Star, stated, “Herndon Oil is a fantastic company with a stellar reputation for providing excellent customer service and a reliable friendly experience across its Southern Traders stores. We are excited to welcome the Southern Traders’ employees to the Tri Star family, and our team is thrilled to grow Tri Star Energy further into the Alabama and Florida markets.”
Mike Martin, President of Herndon Oil Corporation, stated “I have been blessed to work with such great people throughout my 40-year career at Herndon Oil Corporation, and I know our team will be in good hands with Tri Star Energy. It was a pleasure to work with both Tri Star Energy and Corner Capital, who helped deliver great results for the family and our employees.”
Herndon Oil was exclusively advised by Corner Capital. “It was a pleasure and honor to advise Mike, his team, and the Herndon family as they considered their options. We are excited for both Tri Star Energy and the entire Herndon team – they will be in good hands with Tri Star,” stated Rob Thomas, Senior Vice President of Corner Capital.
Financial details of the transactions were not disclosed.
ABOUT TRISTAR ENERGY
At Tri Star Energy, our vision is to be the Mid South’s premier convenience retailer, providing a differentiated food and fuel experience that excites our guests and team members by delivering top-tier performance every day on every site, while leading in community support and involvement. Please visit www.tristartn.com for further information.
FOR MEDIA INQUIRIES, PLEASE CONTACT:
Tri Star Energy
Email: steve@tristarenergy.com
ABOUT CORNER CAPITAL
P. A. Weber III (Andy)
www.cornercapitalpartners.com
aweber@cornercapitalpartners.com
Corner Capital provides transactional advisory services to business owners and entrepreneurs with a focus on energy, retail, distribution, manufacturing, and business services.