J.M. Oil Acquires Two Minn. Stations
ST. CLOUD, Minn. -- Speedstop Gas & Goods, whose parent company is J.M. Oil Co. based here, added to its ranks this week with the purchase of two Sundance Shell stations.
The acquisition, which is Speedstop's first venture in the Sartell, Minn. market and its third in Waite Park, Minn., brings the number of Central Minnesota stores owned by the company to 15, Brian Laudenbach, general manager of J.M. Oil, told the St. Cloud Times. He said this was a good fit for Speedstop, as customers have requested a Sartell location, and the Waite Park location had a stand-alone diesel island.
The Waite Park location will be renamed Speedstop on 75, while the Sartell location will be renamed Speedstop Sartell. Both locations will convert from Shell to BP gasoline in October, the newspaper reported. J.M. Oil will retain the same managers and employees for each store. The company will acquire about 20 employees from both locations.
The Sundance stations were owned by Stuart Swenson for almost a decade. Swenson said he sold them because he wanted to focus more on his other business ventures, including real estate development, and also spend more time with his family, the report said.
The A&W restaurant in the Sartell location will remain open and continue to be operated by Swenson. Meanwhile, Waite Park's deli will be operated by Speedstop. Both locations will undergo layout and design changes in the next month, Laudenbach said.
In July, Speedstop also acquired a mall in Pequot Lakes to add to its convenience chain.
The acquisition, which is Speedstop's first venture in the Sartell, Minn. market and its third in Waite Park, Minn., brings the number of Central Minnesota stores owned by the company to 15, Brian Laudenbach, general manager of J.M. Oil, told the St. Cloud Times. He said this was a good fit for Speedstop, as customers have requested a Sartell location, and the Waite Park location had a stand-alone diesel island.
The Waite Park location will be renamed Speedstop on 75, while the Sartell location will be renamed Speedstop Sartell. Both locations will convert from Shell to BP gasoline in October, the newspaper reported. J.M. Oil will retain the same managers and employees for each store. The company will acquire about 20 employees from both locations.
The Sundance stations were owned by Stuart Swenson for almost a decade. Swenson said he sold them because he wanted to focus more on his other business ventures, including real estate development, and also spend more time with his family, the report said.
The A&W restaurant in the Sartell location will remain open and continue to be operated by Swenson. Meanwhile, Waite Park's deli will be operated by Speedstop. Both locations will undergo layout and design changes in the next month, Laudenbach said.
In July, Speedstop also acquired a mall in Pequot Lakes to add to its convenience chain.