Circle K sells 48 sites to Casey’s General Stores
The Circle K-branded stores are all located in Oklahoma, mostly in the greater Oklahoma City market.
Circle K has sold 48 sites to Casey’s General Stores in a deal advised by Matrix Capital Markets Group. The Circle K-branded stores are all located in Oklahoma, mostly in the greater Oklahoma City market.
They sell Conoco, Phillips 66, Shell, Valero and Circle K branded fuels.
Matrix provided merger and acquisition advisory services to Circle K, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction.
“This transaction was a win-win as Casey’s acquisition of the Stores will allow them to increase their presence in the Oklahoma City market, and it was very important to them to retain the vast majority of the employees, which was also important to Circle K,” said Cedric Fortemps, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group.
When the deal was first announced in March, the transaction included 46 leased and three owned properties.
