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Story Distributing Company to be Acquired by Parkland

Story Distributing Company, operators of Casey’s Corner Convenience Stores and a full line branded wholesaler and retailer of petroleum fuel products in Montana, announced today that it has entered into an acquisition agreement with Parkland through its U.S. based subsidiary (“Parkland USA”).  

Parkland is one of North America and the Caribbean’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator.

 “We’ve been rooted in the Bozeman community since 1976, and our employees are the foundation of our organization. They work very hard every day to serve our customers, and this acquisition with Parkland allows them more advancement opportunities to grow and serve our Bobcat community,” said Dan Alexander, president of Story Distributing Company.

Story Distributing Company was formed in April of 1976 by Doug Alexander when it purchased the assets of Story Motor Supply, the oldest operating petroleum distributor in the State of Montana.  Nelson Story, Jr. the son of Nelson Story who was one of the original founders of Bozeman, Montana, formed Story Motor Supply in 1905. 

Dan Alexander, President and the second-generation leader of the family business, has been instrumental in exponentially growing the business over the past 44 years.  Under Dan Alexander’s stewardship the organization has doubled its volume in the last four years through expansion of the Casey’s Corner retail geography and store formats,  building its dealer fuel supply business to   29 dealers in a five-state area, and expanding commercial fuel services throughout the Bozeman market

Story Distributing Company has operated as an ExxonMobil, P66 and Sinclair branded wholesaler at its present address of 300 East Griffin Drive, Bozeman, Montana since 1978.  Over 44 years of business, Story has increased their gallons forty-fold by selling approximately 51MM gallons of fuel and their gross sales now exceed $200 million.

Story is a full line branded wholesaler operating in Montana, Idaho, Wyoming, Washington, and North Dakota.  They sell Exxon, Mobil, Conoco, Phillips 66, and Sinclair brands of product as well as unbranded products from a variety of suppliers.  They sell branded packaged lubricants, greases, and antifreeze supplied by Union 76, Exxon, Mobil, Kendall, Conoco, Cam II and can solve the needs of any specialty products required by the customer.

Story Distributing Company now owns and operates twelve convenience stores and sells to 29 other privately owned convenience stores and other wholesaler distributors across a five-state area.  In addition, they sell to over 1800 farm, commercial, home heating oil, and industrial accounts.  Alexander’s team operate four commercial cardlocks and one remote bulk plant.  A fleet of eight tankers operate out of the Bozeman headquarters.  Story currently employs approximately 175 people.

Story Distributing Company is very active in the communities they serve.  Donating to over 50 separate non-profit and youth programs, its past and present personnel have served as Presidents and committee chairman for many organizations.  In addition, Dan has served on various advisory boards and business improvement forums for suppliers, and intends to stay active in the Bozeman business and charitable communities

Story is an industry award winning organization and ranked among the top 3% ExxonMobil Distributors in the country 13 times and have won the coveted Circle of Excellence award seven times in a row.  The last three years they were awarded #1 in the Nation for the best site experience by ExxonMobil.  When asked, Alexander responded by saying “We will never be the biggest, but we will be the best!  Our employees shoot for perfection and the result is excellence.  They are the only reason we bring home the awards year after year!”

Corner Capital Advisors, LLC represented Dan Alexander, Story Distributing and its affiliates in a M&A financial advisory capacity through its structured sale process of the business assets, while Williams Mullen served as legal counsel to Story Distributing in the sale. Carl Ray Polk Jr. of Corner Capital stated, “We could not be happier for Dan, his family, his employees, and the local community on this transaction. I have known Dan Alexander and Parkland’s president Doug Haugh for over 20 years, and I am excited to see Parkland and Doug welcoming Dan’s employees & customers into the Parkland family.”

 

About Corner Capital

Since 2006, Corner Capital provides financial and strategic advisory services to entrepreneurs, operating companies, financial institutions, and investors in all segments of the Downstream Energy Industry and including Convenience Retailing and all multi-unit retail formats.  For more information, please visit http://www.cornercapitalpartners.com/  or contact P. A. Weber III (Andy) at aweber@cornercapitalpartners.com, (805) 965-5510.

 

About Williams Mullen

Williams Mullen is a full-service law firm with approximately 240 attorneys in offices across North Carolina, South Carolina, Virginia and Washington, D.C. Otto Konrad, partner at Williams Mullen, focuses on finance, corporate law, mergers and acquisitions and commercial real estate. For more information, please visit williamsmullen.com or contact Otto Konrad at okonrad@williamsmullen.com, (804) 420-6093.

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