With the closing of Hutchinson Oil Co. Inc.’s sale of its convenience retail and travel centers to Alimentation Couche-Tard’s Circle K Stores in January 2025, the Hutchinson family— which owned one of Oklahoma’s leading petroleum marketers, fuels distributors and convenience-store operators—has exited the business.
Along with Circle K’s acquisition of Hutchinson Oil’s 20 Hutch’s-branded convenience stores and travel centers in western Oklahoma and southern Kansas, as CSP reported in November, Hutchinson Oil also sold its delivered fuels business to Hampel Oil Distributors Inc. in fourth-quarter 2024.
Matrix Capital Markets Group Inc. advised Hutchinson Oil on both sales.
Richmond, Virginia-based Matrix provided merger-and-acquisition (M&A) advisory services to Hutchinson Oil, which included valuation advisory, marketing the businesses through confidential, structured sale processes and negotiation of the transactions. Cedric Fortemps, co-head of Matrix’s Downstream Energy and Convenience Retail Investment Banking Group; John Duni, vice president; Mike Tucker, senior associate; and Matthew Paniccia, associate, managed the transaction.
Alimentation Couche-Tard is No. 2 on CSP’s 2024 Top 202 ranking of U.S. c-store chains by store count.
Hutch’s is now part of the Circle K Rocky Mountains Division, based in Greenwood Village, Colorado. The acquisition marked Laval, Quebec-based Alimentation Couche-Tard’s entrance into Oklahoma and Kansas.
With headquarters in Elk City, Oklahoma, Hutchinson Oil is a third-generation, family-owned, family-operated business founded in 1969 by Ross Hutchinson. His son, David Hutchinson, assumed the role of president in the 1990s and focused the company’s efforts on expanding the Hutch’s brand by building large c-stores and travel centers with amenities that cater to both the passenger vehicle and professional driver customer. The stores offer the Hutch’s Deli proprietary food and beverage program with made-to-order foodservice and an extensive selection of traditional convenience merchandise. They also offer Phillips 66 fuel, diesel, compressed natural gas (CNG), bulk diesel exhaust fluid (DEF), showers and ATMs.
The stores also offer Hutch’s VIP Rewards, using the KickBack Points system.
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