Reeves Oil Company Acquired by World Kinect Corporation (NYSE: WKC)
For Immediate Release
Austin, TX
May 1, 2025
LONGVIEW, TX – Reeves Oil Company, Inc. (“Reeves Oil,” “ROC,” or the “Company”), a leading distributor of branded motor fuels in East Texas, has announced the sale of its wholesale fuels supply assets to World Kinect Corporation (NYSE: WKC). ROC’s petroleum distribution network spans central and east Texas, supplying fuel to dealer-operated locations under the Exxon, Valero, and Shell brands.
Founded by H.L. Reeves in 1930, Reeves Oil Company built its reputation over nearly a century of consistent reliability and outstanding customer service across four generations of family ownership. Historically active across the full spectrum of downstream energy, including convenience stores, lubricants, and wholesale distribution, the Company’s recent 25-year strategic focus under the leadership of Justin and Kyle Reeves has been primarily on wholesale fuel distribution, complemented by selective commercial real estate development opportunities.
Justin and Kyle Reeves stated, “Partnering with Corner Capital was instrumental in achieving a successful outcome. Their complete advisory services throughout the entire process, from valuation to closing, were crucial in securing the best outcome for our family, employees, and customers. We are eager for World Kinect to continue our legacy of exceptional service and to foster continued growth with our valued dealer network.”
Corner Capital acted as Reeves Oil Company’s (ROC) exclusive financial advisor, providing investment banking services, including valuation services and a structured sale process. Don Mitchell, Carl Ray Polk, Jr., Sean Stewart, CFA, and Nick Stricker, CPA managed the deal.
Don Mitchell of Corner Capital commented, “Having known and collaborated closely with three generations of the Reeves family, it has been a true privilege advising Justin and Kyle through this structured process. Reeves Oil Company has long been a recognized leader in East Texas fuel distribution, distinguished by its exceptional customer service and enduring industry relationships. This strategic transaction not only provides significant benefits for both parties but also positions the business for continued growth and success under World Kinect’s ownership.”
Legal counsel for Reeves Oil Company was provided by Mitchell Young of Boon Calk Echols Coleman & Goolsby PLLC, Longview, TX.
FOR FURTHER INFORMATION
Carl Ray Polk, Jr., Corner Capital, crpolkjr@cornercapitaladvisors.com
Sean Stewart, CFA, Corner Capital, sstewart@cornercapitaladvisors.com
Nick Stricker, CPA, Corner Capital, nstricker@cornercapitaladvisors.com
ABOUT REEVES OIL COMPANY
Headquartered in Longview, TX, Reeves Oil Company is a leading petroleum marketer that has been in business for over 90 years and markets motor fuels to independent dealers across East Texas. Reeves Oil Company is a fourth-generation family business with a history of exceptional service.
ABOUT WORLD KINECT CORPORATION (NYSE: WKC)
Headquartered in Miami, Florida, World Kinect Corporation (NYSE: WKC) is a global energy management company offering fulfillment and related services to more than 150,000 customers across the aviation, marine, and land-based transportation sectors. We also supply natural gas and power in the United States and Europe along with a growing suite of other sustainability-related products and services.
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 cornercapitalpartners.com