Couche-Tard Completes Dickerson Petroleum Acquisition
LAVAL, Quebec -- Alimentation Couche-Tard has successfully completed its acquisition of Belleville, Ill.-based Dickerson Petroleum Inc. Purchased assets include 29 convenience stores and wholesale assets in Illinois, Missouri and Oklahoma, as CSNews Online previously reported.
Matrix Capital Markets Group provided merger and acquisition advisory services to Dickerson, and the transaction was managed by Tom Kelso, managing director and head of the Energy And Multi-Site Retail Group; Spencer Cavalier, director; Sean Dooley, associate; and Andrew LoPresti, senior analyst.
"Selling the company was a very difficult decision, overshadowed only by the task itself," said Dickerson Petroleum President Steve Dickerson. "I'm convinced I selected the best help with Tom Kelso, Spencer Cavalier and the Matrix team. Their industry knowledge, diligence, and patience led to a best outcome."
Tom Dickerson founded Dickerson Petroleum as a wholesale supplier of tires, batteries, accessories and gasoline in 1971. Its retail c-store business began operations in 1977, after which it became the focus, according to the company.
"Tom and his family built a very strong company over the last 40 years, and we were honored to advise the shareholders through a complex transaction that resulted in a highly successful sale and the monetization of significant family capital," stated Spencer Cavalier.
Joseph Lehrer, Phillip Stanton, Alfred Henneboehle, Giles Walsh and Kevin Vick of Greensfelder, Hemker & Gale P.C. served as legal counsel for Dickerson, according to the announcement.
The 29 stores will be converted to the Circle K brand and continue to offer Phillips 66-branded fuel. Couche-Tard's Midwest division will operate all but one of the stores; the remaining location will be operated by its Southwest division.