MKM Oil Exits C-store Business With Portfolio Sale
GARDNER, Ill. — MKM Oil Co. closed on the sale of 35 Fresh & Fast convenience stores in Central Illinois to TravelCenters of America LLC.
Gardner-based MKM Oil began with one convenience store in 1989 and grew to 35 stores in the 26 years since.
Rick Marketti, MKM Oil’s president, said he will miss the excitement and challenges of operating the chain of 35 stores, but he and his partner Gary Kavanagh both agreed the time had come for them to sell after 26 years and allow others to take the stores to the next level.
As CSNews Online reported on Aug. 6, TravelCenters of America announced it acquired a total of 123 convenience stores for $226 million in six separate transactions. The Fresh & Fast acquisition was one of these six transactions.
Normal, Ill.-based American Business Brokers & Advisors and W.J.F. Services, led by President Terry Monroe, provided merger and acquisition advisory services to MKM Oil.