Kolkhorst – Press Release
June 22, 2016 – Navasota, TX / Santa Barbara, CA
Kolkhorst Petroleum Company, owner of the Rattler’s convenience store chain, is pleased to announce that it has closed a transaction with certain affiliates of Sunoco LP to sell its 14 Rattlers convenience stores that operate throughout Central and South Texas, primarily distributing Exxon, Shell and Valero branded fuel and 34 dealer accounts to which the company supplied branded and unbranded fuel. The Rattlers 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. The Kolkhorst family will retain and continue to operate their commercial fuel, bobtail and lubricant business with the headquarters remaining in Navasota. Corner Capital provided valuation and strategic M&A advisory services throughout the transaction process.
Jim Kolkhorst, CEO of Kolkhorst Petroleum Company, had this to say about the acquisition: “We are pleased to transition the majority of our employees to a company of Sunoco’s caliber. With Sunoco’s strong leadership and proven track-record in the industry, we are confident that our team will benefit greatly from this acquisition with a growth-oriented company.”
Corner Capital Advisors, LLC, assisted Kolkhorst Petroleum with the acquisition process. Carl Ray Polk, Jr. of Corner Capital commented, “We are very pleased and honored that the Kolkhorst family entrusted Corner Capital to assist with the sale of their business. We are also excited for Sunoco’s opportunity to benefit from the legacy of customer service and community involvement that the Kolkhorst family’s stores and people have provided since 1972. It has been a pleasure to work with both the Kolkhorst family and Sunoco’s team throughout this project.”
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 Advisors LLC provides specialty advisory services for all stakeholders in the Downstream Energy industry.
For more information, please visit www.cornercapitaladvisors.com or contact Carl Ray Polk, Jr. at crpolkjr@cornercapitaladvisors.com