HOUSTON — Sunoco LP is boosting its presence in Texas with the acquisition of 14 convenience stores.
Kolkhorst Petroleum Inc. is selling its Rattlers c-store chain, along with its wholesale motor fuel distribution business, to certain affiliates of Sunoco.
The transaction is anticipated to close in the second quarter, subject to confirmatory due diligence and other customary closing conditions. Once complete, the deal will complement Sunoco's existing c-store and wholesale distribution business in Texas.
Kolkhorst Petroleum will retain and continue to operate its commercial fuel, bobtail and lubricant business, with the headquarters remaining in Navasota, Texas. It will also retain Kolkhorst Foods LLC, which operates five Burger King locations.
The Rattlers c-store chain first began as Jim's Food Mart in College Station in December 1992. The stores were renamed and reimaged in 2005. The 14 stores are located in six counties throughout central Texas, operating primarily with Exxon, Shell and Valero branded fuels. The company supplies dealer accounts with branded and unbranded fuel throughout central, south and east Texas.
Kolkhorst Petroleum was first established in 1972 as a fuel consignee for Exxon by husband and wife team, Vivian and the late James Kolkhorst. Jim Kolkhorst, current president and CEO of Kolkhorst Petroleum, took ownership of the company in 1997.
Corner Capital Advisors served as advisor to Kolkhorst on this transaction.
Sunoco LP is a master limited partnership that operates approximately 1,340 convenience stores, including the APlus, Stripes, Aloha Island Mart and Tigermarket brands, and retail fuel sites. It distributes motor fuel to c-stores, independent dealers, commercial customers and distributors located in 30 states at approximately 6,800 sites. Houston-based Energy Transfer Equity LP owns Sunoco's general partner and incentive distribution rights.