CLINTON, N.C. — Sampson-Bladen Oil Co. Inc. and its affiliates have acquired the assets of Rusher Oil Co. and Rushco Food Stores Inc.
Rusher Oil Co. is a distributor of Amoco and BP fuels to 19 branded convenience stores and one commissioned marketer location within a 20-mile radius of its Salisbury, N.C., headquarters. Rushco Food Stores Inc. operated 19 branded convenience stores under the name Rushco Markets.
With the purchase of the Rushco Markets, Sampson-Bladen Oil Co.’s store count has increased to 109 stores. President Haddon M. Clark said he saw a natural fit with the opportunity to add the Rushco Markets to the footprint.
“The Rusher family operated quality stores, and we are honored they selected us to carry on in their communities,” Clark said. “I thank all the people that contributed to the smooth transition of the changeover.”
W.H. Rusher and Son, later Rusher Oil Co., was founded in 1963 by W.H. Rusher after many years as a commission marketing agent with Amoco Oil Co. Rusher Oil Co., under the leadership of Bob L. Rusher, reoriented the company toward retail fuel sales, purchasing desirable real estate in its marketing territory for service stations and expanding the gasoline marketing side of the business.
Bobby Rusher and Joey Rusher joined the business in the 1980s and over the next several years continued to grow by building new-to-industry stores and remodeling older locations into larger facilities. During this time, Rushco Food Stores Inc. was organized and became a successful chain of retail convenience stores and car washes.
Baltimore-based Matrix Capital Markets Group provided merger-and-acquisition advisory services to Rusher. The transaction was managed by Managing Director Vance Saunders, Vice President John Duni and Analyst James Mickelinc.
“Selling a business is a difficult decision,” said members of the Rusher family. “Matrix was able to lead us through the process and provide timely advice to help us make the best decision possible.”
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.