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English Español Joint venture acquires Alta Convenience network

The acquired network has over 100 convenience stores and operates in five U.S. states.



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A joint venture formed by Fortress Investment Group and a subsidiary of Phillips 66 Co. has acquired Pester Marketing Co.

Pester Marketing Co. has a network of 119 locations operating as Alta Convenience in the states of Colorado, Nebraska, New Mexico, Kansas and Washington.

For nearly 65 years, the Pester name, and more recently Alta Convenience, has been a leader in petroleum marketing and convenience retailing throughout the Rocky Mountain, Southwest, and Midwest regions of the United States.  The ownership group originally acquired Pester’s 47 company-operated stores in May 2016 as a spin-off from World Fuel Services Corporation, after WFS’s purchase of Pester in September 2015.  WFS retained the non company-operated store business units.  In January 2018, under the guidance of Pester’s President & CEO, Richard Spresser, the acquisitions of Western Convenience and Kwik Stop were consummated and increased the Company’s store count to over 100.

Post-closing, senior executive management, including Richard Spresser and Monte McGilvray, CFO, will continue to lead the company.

 Matrix provided merger and acquisition advisory services to Pester.

Sam Youngblood, General Partner and Board Chairman, commented, “While it was time for the current shareholders to monetize their investment, we look forward to seeing Pester grow with Rich’s further stewardship under the new ownership of Fortress and Phillips 66.  I am excited to see the businesses continue with such well-respected organizations.”

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