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Refuel Operating Co. Adds Nine Locations, Nears 200-unit Mark

Refuel Operating Co. Adds Nine Locations, Nears 200-unit Mark

Refuel Operating Co., of Charleston, South Carolina, has acquired two
convenience store chains that add nine North Carolina sites to its growing
store network, according to a recent announcement on social media.

The purchases, representing the company's 12th and 13th acquisitions in just
over three years, give Refuel 195 company owned and operated stores with 13
brands. The network spans five states -- South Carolina, North Carolina, Texas,
Mississippi and Arkansas -- the company said.

Great Stops has six convenience stores in the Greensboro, North Carolina, area,
four of them with little Caesar's restaurants and one site with a Subway
sandwich shop. Great Stops also has operated 24-hour Wash-N-Go laundromats
alongside five of the stores, according to its website.

Whalen Corp. operates three Whalen's stores in the Raleigh market, one with a
Typhoon car wash and all three offering Larry's Coffee, the company's website

The price and terms of the two transactions were undisclosed.

First Reserve, a global private equity firm focused on energy, acquired Refuel Inc. and West Oil Inc., also based in South Carolina, in 2019 to create a retail fuel distribution investment platform in the Southeast. At the time, the two companies had a combined 31 sites.

Refuel ranks No. 26 in the Southeast based on corporate market share at 0.57%, with a 0.48% share of the fuel outlets, according to OPIS MarketSharePro. The company retails gasoline at market prices, OPIS figures show. 
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