Tri Star Energy Completes Acquisition of Hollingsworth Oil
NASHVILLE, Tenn. — Tri Star Energy LLC has completed its acquisition of Hollingsworth Oil Co. Inc. and its convenience retail brand Sudden Service.
The purchase adds 53 c-stores in Kentucky and Tennessee to Tri Star's 89 locations in Tennessee, Alabama, Georgia and Kentucky.
"Hollingsworth Oil is a well-established company whose core values align nicely with ours. They have great locations, many in areas where we do not currently operate," said Steve Hostetter, CEO of Tri Star Energy. "Our combined companies will have over 140 retail outlets and 450 dealers featuring some of the best programs and operators in our region. The Sudden Service brand is well-known in the areas in which it operates, allowing us to continue to grow and build that brand in the future."
Tri Star Energy will divest some assets to settle antitrust concerns with the Federal Trade Commission, as Convenience Store News previously reported. The company agreed to sell retail fuel assets in Whites Creek and Greenbrier, Tenn., within 10 days after it completes its transaction with Hollingsworth.
The purchase price and terms of the acquisition were not disclosed.
Nashville-based Tri Star, the parent of Twice Daily convenience stores, operates fuel outlets and c-stores in nine states in the Southeast. It also owns premium coffee brand White Bison Coffee, which includes locations throughout middle Tennessee and northern Alabama.