Mergers & Acquisitions

Pops Mart Fuels Acquires Mallard Oil’s C-Stores

Buyer pursuing growth as seller exits retail with 6-unit deal to focus on other businesses
pops mart fuels mallard oil
Logos/Pops Mart Fuel, Mallard Oil

COLUMBIA, South Carolina — Pops Mart Fuels LLC acquired six convenience stores with fuel from Mallard Oil Co. in late December.

“Mallard Oil, which operates a much larger LP [liquid propane] business in Kinston, North Carolina, was looking to divest the company of its convenience-store assets.” said John McNairy, chairman of Mallard Oil. “We were pleased to sell to a professional group like Pops Mart, who has retained all our convenience-store personnel.”

The company also provides products and services in the grill and fireplace, mini-storage and retail space businesses.

“The acquisition of six Mallard Oil convenience stores takes us into eastern North Carolina where we see further acquisition opportunities,” Pops Mart Fuels’ CEO Don Draughon said. “Pops Mart, now with a total of 45 operating convenience stores, plans to continue its growth strategy through acquisitions.”

Draughon and partner JD Dykstra formed Pops Mart Fuels, a new entity, to complete the acquisition of Columbia, South Carolina-based Winnsboro Petroleum in January 2022. In December 2022, Pops Mart Fuels acquired 14 convenience stores from Anderson Oil Co. Inc., Barnwell, South Carolina. The deal also included one store under construction and seven wholesale fuel dealer locations.

Pops Mart Fuels, still based in Columbia, operates 39 Shell- , BP- , Exxon- and 76-branded locations and seven fuel supply dealer locations in and around the Columbia area that stretch both north and south about 120 miles each way, the company said.

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