Update: Dan Baker, Regal's treasurer and director of operations, told GoSanAngelo that the sale of the c-stores had been in the works for years. COVID-19 slowed the sale, which was finalized on Oct. 8. The sale allows Regal Oil to change its focus. "We're going back to our roots," Baker said. "It was time for us to move on and concentrate on the wholesale side."
LAWRENCEVILLE, Ga. — Majors Management LLC has acquired 14 Star Stop convenience stores and a portfolio of dealer supply accounts from Regal Oil Inc., San Angelo, Texas.
The Regal acquisition increases Majors Management’s existing presence in Texas and expands its footprint throughout the central United States to include supply-only sites in Kansas.
Majors Management’s footprint includes Alabama, Arkansas, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, South Carolina, Tennessee and Texas.
“We are very excited to expand our retail presence in west Texas with the Regal locations and to extend our multi-state supply network with this acquisition,” said Ben Smith, president of Majors Management, Lawrenceville, Ga. “We are committed to providing high-quality and dependable service to Regal's company-operated locations and supply customers.”
“The addition of these sites to Majors' network is further evidence of our continued commitment to our growth strategy,” said Marvin Hewatt, the founder and CEO of Majors Management.
This is the eighth transaction for Majors Management in the last 16 months. In February 2020, Majors also acquired the retail fuel distribution business of The McPherson Cos. adding nearly 200 retail fuel supply contracts to its supply network. In October 2019, the company purchased 18 c-stores in Georgia and four open dealer accounts from McDonald Oil Co., LaGrange, Ga. Earlier that year, in August, Majors acquired 17 stores and the branded Chevron distribution business from Bowden Oil Co., Sylacauga, Ala. It is rebranding those sites to its Hop-In c-store brand. In 2019, Majors Management purchased retail fuel supply contracts and nine c-stores in Texas from Allsup’s Convenience Stores Inc., Clovis, N.M., ahead of the chain’s sale to Yesway.
The company said it anticipates closing on several additional acquisitions in 2020 and 2021.
Majors Management is an owner, developer and operator of conveniences stores and a distributor of branded motor fuels. It supplies fuel to nearly 800 c-stores. Fuel brand partners include Shell, Chevron, Texaco, Exxon, Mobil, Phillips, 76, Sunoco, Valero, CITGO and Alon.