CORSICANA, Texas — W.G. Johnson Oil Co. of Corsicana, Texas, has announced the sale of its convenience retail and commercial business assets—an undisclosed number of Tiger Tote stores as well as Exxon- and Shell-branded fuel distribution—to Palestine, Texas-based Cole Distributing Co. and Kim’s Convenience Stores. The deal closed in December 2021.
In 2020, W.G. Johnson Oil retained Austin, Texas-based Corner Capital Advisors LLC’s valuation and strategic advisory services to identify options for its shareholders. The company elected to pursue a structured sale process for its business assets.
“We have had a long, successful run in this business making numerous friends and making a positive contribution to the communities where we operated. We now think it is time to step aside and focus on other interests going forward,” Tom Johnson, president of W.G. Johnson Oil, said.
W.G. Johnson Oil was founded in 1985 when Tom Johnson’s father, William “Mr. Bill” Johnson, bought an existing business from the previous owner who had elected to sell the company and pursue other business interests. At that time, the business consisted mainly of consumer business and a few small service-station dealers. The Johnson’s built their first Tiger Tote convenience store in 1986 and continued growing their retail, dealer, transportation, lubricants and consumer business in eastern Texas. Bill Johnson retired in 2007 but has continued as an advisor to Tom Johnson.
Kim and Debra Cole founded Kim's Convenience Stores, which has approximately 20 locations, in 1985.
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