After a delay as a result of the COVID-19 pandemic, Jackson Walker client Regal Oil, Inc. completed the sale of 14 Star Stop convenience stores and a portfolio of dealer supply accounts to Majors Management LLC. The transaction was announced on November 2, 2020, and terms were not disclosed.
Based in San Angelo, Texas, Regal Oil supplies petroleum products in the state of Texas, including wholesale gas, diesel, kerosene, naphtha, motor oil, grease, and antifreeze. With the sale of its c-stores, Regal Oil plans to concentrate on supplying wholesale fuel and petroleum products in West Texas.
The Jackson Walker team was led by Samuel S. Allen and Carlos R. Treviño and included Michael A. Flatter and Ali Abazari.
To learn more about the transaction, view the Majors Management news release and the San Angelo Standard-Times article “‘We’re going back to our roots,’ San Angelo oil company sells convenience stores.”
Founded in 1887, Jackson Walker continues to advance the world of business by helping companies of all sizes navigate today’s increasingly complex, interconnected legal landscape. With more than 400 attorneys across seven offices, we are the third-largest law firm in the state and have been recognized by Law360 as a “Texas Powerhouse” and an “elite law firm” that regularly provides counsel to industry-leading clients on highly complex transactions. To explore the Firm’s experience in mergers, acquisitions, dispositions, joint ventures, and other strategic alliances, visit the Corporate & Securities practice page.