Home International Alon completes Skinny's acquisition at $70 mln

Alon completes Skinny's acquisition at $70 mln

Alon USA Energy Inc., an oil refiner and convenience store operator, said yesterday it closed its acquisition of Skinny's Inc. in a deal valued at about $70 million. Skinny's, a privately held Abilene, Texas-based company, owns and operates 102 Fina stores in Central and West Texas. Jeff Morris, President and CEO of Alon, said, "At Alon, everything we do revolves around achieving our strategic objectives. By adding these 102 retail stores we continue to build on our objective to expand the physical integration of our Big Spring refinery." "Over the next few months, we will be converting these stores to the 7-Eleven brand, thereby solidifying our leadership position as the largest 7-Eleven licensee in the United States. We look forward to welcoming the Skinny's family, knowing that with their help we will make a successful transition," he added. Alon, a petroleum refiner and marketer, already operates more than 300 convenience stores in West Texas and New Mexico under the 7-Eleven and FINA brand names and supplies motor fuels to the stores from its Big Spring refinery. Alon also supplies motor fuels to about 900 additional FINA stores.

 

< Prev		Next >