Mergers & Acquisitions

Majors Management Acquires 10 C-Stores in East Texas

Morgan Oil deal includes Chevron-branded retail locations, wholesale, commercial fuels businesses
nacogdoches, texas
Photograph: Shutterstock

LAWRENCEVILLE, Ga. — Majors Management LLC has acquired 10 Chevron-branded convenience stores, the dealer wholesale business and the commercial fuels and lubricants business and associated bulk plant facility in East Texas from Morgan Oil Co. Inc., Nacogdoches, Texas.

Founded in 1935, Morgan Oil has marketed Chevron and unbranded petroleum products in East Texas. Along with the 10 stores, it supplies approximately 10 dealer locations and delivers commercial fuels and lubricants to commercial customers through its distribution fleet and bulk plant facility in Nacogdoches. The retail outlets offer a mix of c-store staples and foodservice catering to the local market. The retail locations also serve local government agencies and other commercial accounts through Morgan Oil’s proprietary fuel card offering.

In the last three years, Majors Management has completed 15 acquisitions across 11 states. Most recently, it acquired six convenience stores in Alabama from Bay Shores Oil Inc., Fairhope, Ala.

“It was our pleasure to work with Ed Morgan and the Morgan Oil team to transition their operations and employees to Majors and provide uninterrupted service to their fueling and convenience customers,” said Majors Management President Ben Smith. “We are excited to welcome the Morgan Oil team to the Majors’ family. This advances our existing growth plans for the state of Texas, and we are honored to serve the residents of East Texas for all their convenience and fueling needs.”

Austin, Texas-based  Corner Capital Advisors LLC, Austin, Texas, provided merger and acquisition advisory services to Morgan Oil.

“The team at Majors was great to work with in all respects, and I know they will continue Morgan Oil’s longstanding tradition of excellent customer service. It was my privilege to deal with a best-in-class team that will honor Morgan Oil’s legacy of service to its customers,” Ed Morgan, president of Morgan Oil, said.

Lawrenceville, Ga.-based Majors Management is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. The company and its affiliates supply fuel to more than 1,200 convenience stores. Majors Management partners with petroleum brands including BP, Shell, Chevron, Exxon, Marathon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon. Its markets include Alabama, Arkansas, Arizona, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia.

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