Western Refining Finalizes Purchase of Arizona Chevron Stations
SAN JUAN CAPISTRANO, Calif. -- Western Refining Southwest Inc. has finalized its purchase of multiple Chevron-branded gas stations and convenience stores in Tucson, Ariz., from Fisher Arizona LLC, according to Fisher’s financial advisor AXIS Business Advisory Services LLC.
"This was the second transaction we closed in as many months representing owners of gas stations and convenience stores in Tucson, Ariz.," said Marc Berger, co-managing director for AXIS and lead principal for the transaction. "Western Refining Southwest Inc. was the acquirer in both transactions. I think it is another excellent strategic move by Western Refining as a means to lock up distribution for their refined product."
Western Refining Southwest also completed a master lease agreement with Loma Catalina Co. for 17 Catalina Mart c-stores and gas stations, along with supply agreements with Chevron and Valero, AXIS announced.
"We're pleased to have been the lead financial advisor for this transaction, which took the collective efforts of all the participants. Chevron USA Inc., Valero Energy Corp. and McDonald's Corp. were all extremely helpful in assisting with a complex structure," said Berger.
As CSNews Online previously reported, Western Refining Southwest announced the purchase of the stores in June and began operating them later that month.