USA: Mercury Fuel Service sold to EG Group, CCO
The U.S. fuel and convenience retailer has sold its business consisting of 20 sites and fuels wholesale.
Mercury Fuel Service has sold 20 gas stations and convenience stores as well as its fuels wholesale business.
The sale was divided in two. Eight sites were acquired by c-store giant EG Group, while 12 sites and the company’s fuels wholesale business were sold to affiliates of CCO, LLC (Sam’s Food Stores).
The Stores are all located in Connecticut and sell the Mercury’s proprietary branded fuel, Price Cutter, as well as Sunoco, Mobil, Gulf and Citgo branded fuel. The wholesale business serves dealer accounts in Connecticut, Massachusetts and New York.
Mercury was founded in 1947 by two brothers, Michael Devino and Thomas “Babe” Devino. Originally established as a small retail home heating oil business, the Company initially operated out of a modest three-bay garage and owned a vehicle fleet consisting of just one 500-gallon delivery truck.
Matrix provided merger and acquisition advisory services to Mercury.
