Valentine Stores sells retail business to Sunoco LP


WATERTOWN, NY – Valentine Stores Inc. is effectively leaving the convenience store channel with the sale of its retail business to Sunoco LP.

Valentine Stores, based in Watertown, has signed a definitive agreement with a wholly owned subsidiary of Sunoco for 18 convenience stores in upstate New York.

The transaction is expected to close in the second quarter, subject to confirmatory due diligence and other customary closing conditions.

This agreement includes 18 Valentine Stores branches, including two Tim Hortons and five Subway quick service restaurants within these branches. In addition, a standalone Tim Hortons and a Tim Hortons at a third party operated convenience store are included in the deal.

Robert Valentine of Trefethen Advisors LLC is acting as advisor to Valentine Stores in this transaction.

This is Sunoco’s second acquisition transaction in the past week. The company’s subsidiaries have entered into an agreement with Kolkhorst Petroleum Inc. to purchase the convenience store chain Rattlers in Texas, which has 14 stores, as well as the Kolkhorst wholesale fuel distribution business, as CSNews Online Previously reported.

Houston-based Sunoco is a master limited partnership that operates approximately 1,340 convenience stores, including the APlus, Stripes, Aloha Island Mart and Tigermarket brands, and fuel retail sites. It distributes fuel to convenience stores, independent dealers, commercial customers and distributors located in 30 states at approximately 6,800 locations. Houston-based Energy Transfer Equity LP owns the general partner and incentive distribution rights of Sunoco.

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