We are pleased to announced that Classic Star Group LP has acquired the convenience retail, ChevronTexaco- and Shell-branded fuel distribution and commercial business and property assets of H&M Wholesale Inc. The deal included three branded retail stores, several branded dealer supply contracts, transportation assets and the commercial business.
Classic Star Group, Fort Worth, Texas, supplies fuel to more than 600 customers in seven states. The goal of Classic Star Group is to assist owners of gas stations, c-stores, and business operators to grow their business by supplying branded and unbranded fuel, marketing, business development and other services to give them a competitive advantage in the marketplace. Going forward all H&M operations will be under the Classic Star Group umbrella.
“With the acquisition we will be able to expand our services and distribution to a larger network in the extended College Station, Houston, and Austin market – and we are excited to work with our expanded team to better serve our customers and grow” added Andrew Bharwani, Co-Founder and CEO of Classic Star Group.
Santa Barbara, California-based Corner Capital served as the financial and strategic advisor to H&M Wholesale. Classic Star Group was advised by their internal corporate advisory team.
H&M has been a fuel distributor since 1960 and a convenience retailer since 1980. In 1980, the company began operating its first store and continued focusing on both convenience retail and fuel distribution.
About Classic Star Group
Classic Star Group is a fuel distribution, wholesale transportation, and real estate development company based in Texas. They are a privately operated business with over 60 years of combined industry knowledge and expertise. Classic Star Group is constantly growing to serve customers in all US locations. They have partnerships with all major oil companies and can provide their customers with the tailor made experiences for their financial and professional goals. Their core business model is a commitment to do what’s right which extends to our customers, employees, and the communities where we live and operate in and has been our mission and reputation from inception.
External source: https://www.cspdailynews.com/mergers-acquisitions/classic-star-group-acquires-assets-hm-wholesale