Service Type: M&A
Client: Brookshire Brothers
Client Description: Regional grocery store chain throughout Texas and Louisiana that also operates convenience retail, dealer wholesale, and commercial fuel businesses.
- The Company decided to divest of the majority of its convenience store operations, along with its dealer fuel supply contracts and commercial fuel accounts, in order to focus on its grocery store business.
- The Company’s convenience store business originated in Lufkin, Texas, expanding over 36 years to become a leading convenience retailer in the Texas counties of Houston, Polk, Nacogdoches, Cherokee, San Augustine, Jasper, Sabine, and Tyler.
- The Company engaged Corner Capital Advisors to divest of 26 convenience stores, with the option to purchase two additional leased locations and two in-store Subways. As part of the sale, the Company chose to include 9 dealer fuel supply contracts and commercial accounts of approximately 812,000 gallons.
- Corner Capital developed a marketing solution that highlighted the advantageous characteristics of the Company’s assets, including diversified product offerings, strong foodservice programs, and branded marketer agreements with leading brands such as ExxonMobil and ChevronTexaco.
- The Company’s well-managed convenience store locations, strategic geographic placement, and regional brand reputation presented buyers with an attractive acquisition opportunity.
- Corner Capital successfully marketed the Company’s divestiture efforts and was able to find a strategic buyer that satisfied the Company’s terms of sale.