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06/02/2021

​Alta Convenience Acquires Red Horse Oil's C-store Business

The deal includes five sites in Wyoming.

DENVER — Alta Convenience is expanding its presence with the acquisition of Red Horse Oil's Get 'N Go Stores.

Founded by brothers Robert and Christian Bunning 60 years ago, Rock Springs, Wy.-based Red Horse is a fuel distributor and operator of five convenience stores, car washes and cardlocks.

Jay Schneiders acquired the business 10 years ago.

"While it was time for me to monetize my investment, I look forward to seeing Red Horse grow with [Alta President Rich Spresser's] further stewardship," said Schneiders. "I am excited to see the businesses continue with such well-respected organizations."

CF Altitude LLC dba Alta Convenience operates 106 convenience stores in four states — Colorado, Kansas, Nebraska and New Mexico — and markets fuel under various brands including Phillips 66, Conoco and Exxon.

The company was purchased in January 2021 by a joint venture between affiliates of Fortress Investment Group LLC and a subsidiary of Phillips 66 Co.

Scottsdale, Ariz.-based Trefethen Advisors provided advisory services to Denver-based Alta Convenience. Bill Trefethen, managing partner, handled the transaction with Matt Fischer, managing director.

"It is very special to have advised Alta Convenience on another acquisition," said Trefethen. "The current ownership group and management team, led by President Rich Spresser, have grown and significantly improved the chain. We look forward to watching the company continue to grow."