Laurel Oil, LLC d/b/a Rapid Express, a branded petroleum marketer and convenience retailer in Jones County, MS, announced today the successful sale of its convenience retail and Shell branded distribution assets to Clark Oil Company, Inc. of Waynesboro, MS.
Founded in 1923 (including predecessor entities), Laurel Oil’s long history of marketing Shell and unbranded petroleum products has earned the Company a stellar reputation within the communities it serves. Laurel Oil also takes pride in retail operations, offering a mix of convenience store staples and curated gift shop merchandise that caters to the local market. Additionally, Laurel Oil serves local government agencies and other commercial accounts at retail locations through its proprietary fuel card offering.
Tom Saucier, President of Laurel Oil Supply and Member of Laurel Oil, LLC stated: “Over the course of our long and successful history, we’ve made many friends and positive contributions to our communities. We believe Clark Oil values the relationships we’ve built over 99 years and four generations in the business, and will continue Laurel Oil’s long-standing tradition of excellent community service. We are also pleased to commend our advisory firm Corner Capital, who helped us navigate through every step of the transaction process, and we appreciate their “hands-on” service, deep knowledge of our business, and industry expertise.”
Clark Oil, a family-owned petroleum marketer and convenience retailer, distributes branded petroleum products to more than 150 convenience stores in the southern Mississippi and southern Alabama areas. Clark Oil operates more than one-third of the locations under its proprietary “Clark’s” store brand.
Corner Capital Advisors, LLC provided merger and acquisition advisory services to Laurel Oil, which included valuation advisory, marketing the business assets through a structured sale process, and transaction negotiation. The transaction was managed by Rob Thomas and Sean Stewart, CFA. Rob Thomas of Corner Capital stated: “I’ve known Tom for about 20 years, beginning with my time at Shell. Having the opportunity to advise Tom and his family on the sale of their business has been a true honor. Laurel Oil has built an incredible business and we are happy for their successful outcome.”
Steve Wilson and Michael Noble from Bradley Arant Boult Cummings, LLP served as legal counsel for Laurel Oil, LLC.