COLUMBUS, Miss. — Thirty-one MinitMan convenience stores have changed hands.
In the latest industry M&A deal, Dutch Oil Co. and Victory Marketing LLC, the companies behind the Sprint Mart chain, acquired Huntsville, Ala.-based The Spencer Cos. Inc., according to the Birmingham Business Journal.
The transaction boosted Sprint Mart's network to more than 100 company-operated stores and its presence in several North Alabama markets. Financial details of the deal were not disclosed, the report added.
With the close of the deal, Sprint Mart now owns 31 MinitMan c- stores, several dealer locations, numerous unmanned cardlock facilities and fuel transportation assets.
Based in Columbus, Dutch Oil Co. distributes independent and Shell-branded gasoline and diesel products to nearly 70 company-operated and dealer locations in Mississippi and Alabama.
Victory Marketing was founded in Ridgeland in 2000 as a result of a hybrid merger involving Morris Petroleum Inc., Dutch Oil Co. and Victory Energy LLC. It operates more than 75 c-stores on behalf of three oil companies in Mississippi, Alabama and Louisiana under the name Sprint Mart.