Quality State Oil Exits C-store Business With TravelCenters Deal
WESTLAKE, Ohio — TravelCenters of America LLC (TA) completed its previously announced acquisition of 17 convenience stores in Wisconsin from Quality State Oil Co. The transaction marks Quality State Oil’s exit from the c-store business that dated back 60 years.
The 17 c-stores, currently known as Q Marts, will be rebranded as Minit Marts, and will undergo improvements in the coming months, stated TA.
Despite Sheboygan, Wis.-based Quality State Oil’s exit from the c-store business, it will remain active in the wholesale fuel business, which it plans to grow.
Quality State Oil was purchased by Greg Bultman in 1988. He owned the business until its March 31 sale.
Terry Monroe of Effingham, Ill.-based American Business Brokers & Advisors, and Bill Fecht of Normal, Ill.-based W.J.F. Services Inc. provided merger and acquisition advisory services in this transaction.
Westlake-based TravelCenters of America LLC operates in 43 states, primarily under the TA and Petro Stopping Center travel center brand and the Minit Mart convenience store brand. The company has been quite active in recent months acquiring c-store assets.