LAUREL, Miss. — Clark Oil Co. has acquired six convenience stores and Shell-branded distribution assets of Laurel Oil LLC.
Laurel Oil, based in Laurel, Miss., owned and operated six Rapid Express and Rapad Express c-stores in Mississippi.
Founded in 1923, Laurel Oil’s stores offer a mix of c-store staples and curated gift shop merchandise that caters to the local market, the company said. Additionally, Laurel Oil serves local government agencies and other commercial accounts at retail locations through its proprietary fuel-card offering.
“We believe Clark Oil values the relationships we’ve built over 99 years and four generations in the business, and will continue Laurel Oil’s long-standing tradition of excellent community service,” said Tom Saucier, president of Laurel Oil Supply, a division of Laurel Oil LLC.
Waynesboro, Miss.-based Clark Oil, a family-owned petroleum marketer and convenience retailer, distributes branded petroleum products to more than 150 convenience stores in the southern Mississippi and southern Alabama areas. Clark Oil operates more than one-third of the locations under its Clark’s store brand. It ranked No. 132 on CSP’s 2021 Top 202 list of the largest c-store chains in the United States.
Corner Capital Advisors LLC, Austin, Texas, provided merger and acquisition advisory services to Laurel Oil, which included valuation advisory, marketing the business assets through a structured sale process and transaction negotiation.
“Corner Capital … helped us navigate through every step of the transaction process,” Saucier said, “and we appreciate their hands-on service, deep knowledge of our business and industry expertise.”
Steve Wilson and Michael Noble of Bradley Arant Boult Cummings LLP of Birmingham, Ala., served as legal counsel for Laurel Oil LLC.
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