H&M Wholesale, Inc. has announced the successful sale of its convenience retail, ChevronTexaco and Shell branded fuel distribution, and commercial business assets to Classic Star Group, LP of Fort Worth, Texas and its affiliates. In 2019, H&M retained Corner Capital’s valuation and strategic advisory services to identify corporate options for its shareholders. After analysis and consideration, the Company elected to pursue a structured sale process for its business assets.
Mary Walker, owner of H&M Wholesale, Inc. commented upon the closing of the transaction, “We have had a long and fruitful journey in the industry and look forward to a new chapter as we transition our business to a like-minded neighbor that shares our passion for the business and will take good care of our customers in the Brazos Valley area. Our family is appreciative of Corner Capital’s stewardship of the transaction especially in this environment.”
H&M was founded in 1960 by Hoover Alford who began his history with Texaco as a Consignee. In 1980, as Texaco was selling their real estate and equipment assets to their agents, Hoover Alford and his wife, Mary Walker, took advantage of the opportunity and incorporated their acquisition as H&M Wholesale, Inc. Mary Walker was later joined by her son, James Boedeker, and the two continued growing their retail business and invested in many dealer-owned retail operations.
“Having known the H&M family for over a decade,” stated Carl Ray Polk, Jr. of Corner Capital, “we were honored to assist them in their efforts. We appreciate their trust in managing their transaction. Ms. Mary, and her son James were a pleasure to work with.”