IN THE NEWS
"Acquisitions Continue to Narrow the C-Store Industry Ranks" CSP M&A News — This coverage follows the continued consolidation by big chains as they go deeper for deals. PEG CEO Ken Shriber opines on a potential Cumberland Farms sale as news is released regarding two New York-based acquisitions by Marathon Oil and EG Group.
"COVER STORY: C-Store Industry Seller’s Market" NATIONAL REPORT — High purchase price multiples, stable borrowing costs, favorable tax law changes and aging owners have combined to create “the perfect storm” for convenience channel consolidation. PEG tells CSN that “this speaks volumes about the intense approach to acquire that all companies we deal with exhibit, and across the size spectrum.”
"Big Oil Makes a Major Retail Statement" COVER STORY — “The Thorntons chain acquisition combines high-volume outlets for BP fuels with a high-quality convenience-store chain with a large, visible, and attractive footprint,” says Petroleum Equity Group. “Given the lion’s share of stores surround BP’s corporate Illinois hubs and their Whiting, Ind., and Toledo, Ohio, refineries, the combination is strategically attractive for them. It is not necessary to actually manage the operations. That function is better left to the convenience-store experts.”
"Will Venezuela Lose Control of CITGO?" "CITGO has made significant efforts over the past couple of years to enforce branding compliance, upgrade the appearance of many sites and install new multi-product dispensers," said Ken Shriber, managing director and CEO of Petroleum Equity Group, Chappaqua, N.Y. He told CSP Daily News that "it is unclear whether the judge’s order will impact domestic operations".
"Marathon, Andeavor Double Down on Refining" PEG Calls the New Mega-Platform "Brilliant" Ken Shriber, CEO of PEG, provides industry view with his response to this news which creates a perfect, coast to coast network of refinery, pipeline, terminal, and retail fuel assets. He says that “This is definitely a case where the whole is greater than the sum of its parts...1+1=3.”
"Should Casey's Be Sold?" Activist investors push chain's board to consider strategic alternatives PEG opines on JCP Investment Management's suggestion that the chain is “significantly undervalued” and urged the board to “immediately engage a financial adviser to explore all strategic alternatives, including a potential sale, merger or similar transaction in order to maximize shareholder value.”
November National CSP Magazine Cover Story "Store Centric Mindsets Re-take M&A in 2017" Ken Shriber of PEG provides industry perspective on convenience retailers and big oil companies leading sector M&A activity over MLP's.
"Shareholders and Fuels Industry React to Speedway Decision" "This was a predictable outcome regarding MPC’s decision not to spin off Speedway,” according to Petroleum Equity Group. PEG's CEO told CSP Daily News that, “It's the right decision, but they had to explore all options in response to activist shareholders.”
July National Magazine Cover Story - "Top 10 Chains Tower Above in 2017 CSNews Top 100" Commentary provided by Ken Shriber of PEG on the continuing consolidation of the biggest c-store chains.
"What's to Come for CST Under Couche-Tard?" "They are buying sites with c-stores so they can immediately re-identify and rebrand (to Circle-K) to expand their footprint in Texas. It also gets them into California and a few other states where their presence is not as heavy," PEG told Convenience Store News.
"Who Could Buy Speedway?" ------ Spin-off, off?The battle for Speedway "would likely be a cage fight between 7-Eleven and Circle K," Ken Shriber, Managing Director of Petroleum Equity Group, told CSP Daily News.
"Western Convenience Stores Re-Emerge"
Petroleum Equity Group and Garrison Investment Group help pull Western Convenience out of bankruptcy.
"Western Convenience Achieves Restructuring" Garrison Investment Group engages Petroleum Equity Group as its exclusive fuels & convenience store advisor.
"NRC & PEG form Special Situations Alliance" NRC Realty & Capital Advisors and Petroleum Equity Group form strategic alliance for special projects.
"Is 7-Eleven In or Out on a CST Acquisition?"
Petroleum Equity Group, Chappaqua, N.Y., told CSP Daily News, “It is not surprising that CST has followed a dual path of courting potential buyers while their ...
"How Pipeline Perks Sweeten Industry M&A"
Ken Shriber, managing director and CEO of Petroleum Equity Group, told CSP Daily News that any company with significant access and history on the pipeline is in a prime competitive position.
"Forecasting CST Brands’ Future"
CST’s independent committee will review the company’s operational cost structure and how it’s leveraging its fuel buying and selling, said Ken Shriber, managing director of Petroleum Equity Group.
"Can CST Brands Assuage Opposition?"
Ken Shriber, managing director of NY-based Petroleum Equity Group said, “They’ve done a very nice job transitioning the company to a new public entity, their forecourts are updated, and the Corner Store...
"California Gas Station, C-Store Reborn"
“This was an incredibly complex transaction, and we were so thankful to have the commitment of partners like Coastline and Getty Realty," said Ken Shriber, CEO of Petroleum Equity Group.
"Casey’s Evaluating Small And Large Buys"
Kenneth Shriber, managing director of M&A advisory firm Petroleum Equity Group, said Casey’s may be seen as an even more attractive target today, after the USD 1.8bn sale of Susser Petroleum to Sunoco owner Energy...
"Mohawk Oil Sells Stations, Exits Business"
Ken Shriber of Petroleum Equity Group, Chappaqua, N.Y., served as exclusive advisor to Mohawk Oil.
"Mohawk Oil Company Acquired By Gill Energy"
Gill Energy, headquartered in Matawan, NJ, has acquired 87-year-old Mohawk Oil Company, based in Chester, NJ. Petroleum Equity Group served as exclusive advisor to Mohawk.
"Gill Energy Acquires Mohawk Oil"
Petroleum Equity Group served as exclusive advisor to Mohawk Oil. “We are extremely pleased with the range of services and depth of industry expertise provided by Ken Shriber of Petroleum Equity Group in helping us...
"Empire Petroleum Partners Forming MLP"
"These small MLP's that come onto the market represent a significant movement towards the continued consolidation in the industry, and in the future, some of the MLP's might merge, or sell as well. That's a realistic option down the...
PEG is engaged by a South American-based consulting company to pursue opportunistic projects related to large retail gas and convenience store chains, with the objective of improving their overall productivity and financial results.
A New York-based distributor hires PEG to develop a new fuel branding strategy in select markets within the Company’s footprint.
New Jersey-based real estate company engages PEG to assist with the sale of a retail gas station property for a higher and better use.
Metro NYC distributor with over 10 branded retail gas locations and trucking business appoints PEG as lead advisor to oversee all activities related to the sale of the Company.
New England-based distributor with over 15 branded retail gas and convenience store locations hires PEG to perform valuation and marketing assistance services.
A major fuels marketing and logistics company engages PEG to source and analyze liquid fuels terminals with pipeline, rail, and/or barge access for acquisition. East Coast markets from Maine to Florida are initially targeted.
Company with a unique, high quality portfolio of 20 locations has appointed PEG as their lead advisor to analyze, value, and assist in the sale of their fee owned retail gas station and convenience store sites located in New England. Included as part of the assets are branded wholesale distributor agreements from 3 major oil companies.
PEG is engaged to analyze and assist in the sale of a 105k barrel liquid fuels terminal located in Pennsylvania. The terminal is a strategic asset as it has both pipeline and rail access, and can store a full array of refined products including gasoline and Diesel/ULSD, plus Heating Oil and lubricants.
Northern New Jersey new to industry (NTI) gas location comes on stream following a May 2017 grand opening ceremony. PEG sourced this urban location for use as a high volume retail gas site with a large format convenience store, and advised on its redevelopment.
Engaged by a New York-based retail fuel and large-format convenience store chain to value assets and position the company for sale
For a high-value gas station property in New York City, PEG is advising the ownership on its redevelopment for a higher and better use
Sourced New Jersey site for acquisition and redevelopment by a New York-based distributor, and coordinated financing structure
Retained by a PE firm to assist with due diligence in support of a $40M+ debt placement for a Colorado-based fuels distributor with a chain of 43 retail gas sites with convenience stores
Sale advisory team lead for a New Jersey based retail/wholesale jobber with 12 retail sites plus trucking and wholesale businesses
Identified high volume No. New Jersey, new to industry (NTI) site for gas and large format convenience store. Sourced tenant-operator to develop with the landowner under a long term lease arrangement.
Sourced retail/wholesale Gulf jobber for sale and led analytics and advisory team for a New England-based company
Advisory team lead for successful sale of a Sunoco branded distributorship with 5 large retail sites and branded supply in No. NJ
Sourced and completed transactions to acquire 10 Hess branded locations in New Jersey, Penn., and Florida with two distributor buyers
Appointed to lead the advisory team for acquisition of a large, branded travel center in So. California with sale leaseback financing
Established in 1927, Mohawk Oil Company is Sold; Seller exits business.