Friday, January 19, 2018
WESTERN CONVENIENCE STORES SOLD TO PESTER MARKETING COMPANY
Source: NRC Press Release
Denver, CO. January 19, 2018 – Western Convenience Stores, Inc. has announced the sale of all of its gasoline/convenience stores to Denver-based Pester Marketing Company. Western operated 42 stores in and around Denver, Colorado Springs, Pueblo, Grand Junction, Colorado mountain resort locations and Western Nebraska. Pester will rebrand all stores to their proprietary Alta Convenience Stores trademark and offer Phillips 66 gasoline products.
Western was founded in 1989 by Hossein Taraghi with a single convenience store. He grew the company from 1990 to 2011 through the strategic acquisition of existing convenience store locations, culminating in the 42 stores which the company operates today. Stores range in size from small formats up to 4000 square feet, with the average store size over 2000 square feet.
Pester Marketing Company operates 119 stores in Colorado, Nebraska, New Mexico, Kansas and Washington. The company also provides motor fuel products under several national and regional brands including Conoco, 76, Phillips 66, ExxonMobil, Shell, and Alta Fuels.
“I am very pleased to be able to sell the Western portfolio of stores to Pester Marketing. Our locations complement theirs and they are experienced operators with a great reputation in the industry. I wish them well going forward,” commented Hossein Taraghi, Western’s Chief Executive Officer and owner. “We are extremely pleased to significantly expand our presence in our hometown market, and to introduce our services and products to Western’s customers,” stated Rich Spresser, President of Pester Marketing Company. “We welcome Western’s employees into our family as well, and are excited about our combined future.”
NRC Realty & Capital Advisors, LLC served as exclusive financial advisor to Western Convenience Stores in connection with the sale. Pester Marketing Company retained Corner Capital Advisors, LLC as its exclusive advisor for the transaction with financing facilities secured through Crow Holdings Capital Partners.