Tri Star Energy agrees to divest to complete Tennessee acquisition
Tri Star will sell two sites in order to acquire 53 Sudden Service retail stores.
Tri Star Energy and Hollingsworth Oil Company have agreed to divest retail fuel assets to settle charges that Tri Star’s proposed acquisition of certain assets from Hollingsworth would violate federal antitrust law.
Tri Star, a Nashville, Tennessee-based energy company, operates fuel outlets and convenience stores in four states including Tennessee. The Hollingsworth entities are based in Springfield, Tennessee and operate fuel outlets and convenience stores throughout middle Tennessee.
Both companies entered into an agreement to acquire the outlets from Hollingsworth Oil on March 6, 2020.
According to the Federal Trade Commission’s complaint, the proposed acquisition would harm competition for both retail gasoline and retail diesel in the two local markets of Whites Creek, Tennessee and Greenbrier, Tennessee. In each of these markets, the acquisition would result in a merger to mono
Hollingsworth controls Hollingsworth Oil and C & H Properties, both based in Springfield, Tenn. Hollingsworth Oil has a network of 54 c-stores under the Sudden Service name with attached retail fuel outlets in middle Tennessee. It provides a variety of third-party branded and unbranded fuels at its Sudden Service outlets and to 172 wholesale fuel locations.
