Hi-Noon Petroleum Sells Assets to Jacksons Food Stores
MISSOULA, Mont. — Hi-Noon Petroleum Inc. concluded nearly five decades in business with the sale of its convenience retail, dealer wholesale and transportation assets to Jacksons Food Stores Inc. for undisclosed terms.
The deal includes three c-stores, 46 dealer accounts and Hi-Noon's entire transportation fleet.
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Hi-Noon grew to become one of Montana's prominent distributors of branded motor fuels over nearly 50 years of operations, according to the company. President, CEO and current owner Dirk Cooper joined the company as its chief financial officer (CFO) to assist in its restructuring in 2003 and acquired it from founder William J Nooney in 2015. Under his leadership, Hi-Noon's stores were recognized as community-favorite destinations and celebrated for their exceptional customer experience and high-quality product selection.
Additionally, the company's wholesale fuel division serves as the leading provider of branded fuels in the greater Missoula area and beyond, the company added.
Corner Capital Advisors LLC provided valuation, strategic advisory, and mergers and acquisitions services to Hi-Noon.
"I would like to express my heartfelt gratitude to my entire team, and most notably to our CFO, Amy Buser. Amy has always been an incredible asset, and her efforts over the past few months were instrumental in ensuring the success of this transaction," Cooper said. "Further, the professionals at Corner Capital demonstrated skill, knowledge, and unwavering support throughout the process. Combined with the incredibly strong team we worked with at Jacksons Energy, I will be forever grateful to have worked with the ideal partners to carry forward the legacy of our company."
Since John D. Jackson founded Jacksons in 1975 as a single service station, the family-owned company has grown into a chain of more than 300 company-operated convenience stores in Idaho, Nevada, Oregon, Washington, Arizona, California and Utah under the Jacksons Food Stores and ExtraMile by Jacksons Convenience Store brands.