Cox Oil exits c-store market after selling to Tri Star
A total of 54 Little General Convenience Stores and Maverick Quick Shop locations have been acquired to grow the company’s footprint to over 200 sites.
Tri Star Energy has acquired 54 c-stores in both Tennessee and Kentucky from Cox Oil Co. The locations operated under the banners of Little General Convenience Stores and Maverick Quick Shop and were acquired for an undisclosed amount.
According to an announcement last Wednesday, almost all of the stores purchased were owned by Cox, with only two of them dealer-operated. NRC Realty & Capital Advisors published the news after serving as financial advisor to the seller on the deal.
Thanks to the acquisition, Tri Star has grown its footprint by over 30% and surpassed the 200 locations mark. The firm operates the Twice Daily, Sudden Service and Southern Traders brands.
"Cox Oil is a well-established company whose reputation and core values align nicely with ours. They have great locations, many in areas where we do not currently operate. Our combined companies will feature some of the best programs and operators in our region, allowing us to continue to grow and build the brand in the future," said Steve Hostetter, CEO of Tri Star Energy.
This acquisition builds upon Tri Star’s ambition to rebrand all of its Sudden Service and Southern Traders convenience stores in Tennessee and Alabama to Twice Daily.
