NASHVILLE, Tenn., and ABBEVILLE, Ala. — Tri Star Energy LLC has acquired 13 Southern Traders conveniences stores and the Shell-branded fuel distribution business of Herndon Oil Co., the Herndon family’s last retail assets. The deal also included two new development parcels, a Checkers and a Subway.
The companies did not disclose the financial details of the transaction.
Abbeville, Ala.-based Herndon Oil is a retailer and marketer of motor fuels with a portfolio of c-stores across southern Alabama and the panhandle of Florida. It traces its roots back to the late 1950s when two brothers, C.S. Herndon and A.W. Herndon, decided to supply their own grocery stores with petroleum products.
In 2009, The Pantry Inc., Sanford, S.C., acquired 38 c-stores and travel centers from Herndon Oil, which continued to operate its remaining c-store assets in the Dothan, Ala., area. Circle K owner Alimentation Couche-Tard Inc., Laval, Quebec, acquired The Pantry in 2015.
- Tri Star Energy is No. 51 on CSP’s 2021 Top 202 ranking of U.S. c-store chains by number of company-owned retail outlets.
Founded in 2000, Nashville, Tenn.-based Tri Star Energy is a joint venture between Kimbro Oil Co., The Parman Corp. and Shell Oil. Tri Star Energy is a major convenience retailer and distributor of branded and unbranded petroleum products in the South through its Twice Daily, White Bison and Sudden Service brands.
“Herndon Oil is a fantastic company with a stellar reputation for providing excellent customer service and a reliable friendly experience across its Southern Traders stores. We are excited to welcome the Southern Traders’ employees to the Tri Star family, and our team is thrilled to grow Tri Star Energy further into the Alabama and Florida markets,” said Steve Hostetter, CEO of Tri Star,
“I have been blessed to work with such great people throughout my 40-year career at Herndon Oil Corp., and I know our team will be in good hands with Tri Star Energy,” Mike Martin, president of Herndon Oil, said.
Corner Capital, Austin, Texas, which provides financial and strategic advisory services to companies in the downstream energy and convenience industry, exclusively advised Herndon Oil.