DENVER – Private-equity group Western Alta Holdings LC has acquired the operations of six Loco Convenience Stores in Colorado through a joint venture with Loco Inc. The Loco c-stores are in Grand Junction, Fruita and Glenwood Springs, Colo.
Alta took over the Loco c-stores on March 1, 2017. The companies did not disclose the terms of the transaction.
The new c-stores expand the Alta Convenience brand name further west and complement Western Alta’s growth plans. This acquisition increases the company’s retail division to 61 Alta Convenience locations throughout Colorado, Kansas, Nebraska and New Mexico.
“We are very excited about these six stores and our partnership with Loco Inc.,” said Phil Zaccaria, general partner and CEO of Western Alta Holdings, doing business as Pester Marketing Co. “The [Alta] management team, led by Rich Spresser, president, has done a great job over the last year of fine tuning our operations, making this addition a quick smooth one. Our intent is to continue to aggressively grow the company with strategic acquisitions that will tuck-in with the current retail platform.”
Loco has been in business since 1972 when Robert Lee Lipson Jr. and Robert Lipson III established the Grand Junction-based company. The locations feature Subway and Domino's Pizza restaurants; one store features a Starvin' Arvins restaurant.
Pester Marketing was formerly led by industry pioneer Jack Pester, who founded the company in 1955. In May 2016, San Antonio-based Western Alta Holdings acquired the retail division and operating company of Pester Marketing from World Fuel Services, Miami, which acquired PesterMarketing in October 2015.