Refuel Acquires Holmes Oil's Cruizers Convenience Stores

November 12, 2020

Refuel Operating Company, LLC, a Charleston-based convenience store and fuel-distribution platform backed by First Reserve, agreed to acquire the operating assets of Holmes Oil, Inc. (Cruizers), including 26 convenience stores and a wholesale fuel distributorship in the Raleigh–Durham, North Carolina market. The undisclosed deal is an add-on to Refuel's platform and expands its store footprint and regional density in North Carolina.

Buyers
Refuel Operating Company, LLC (Refuel), First Reserve
Targets
Holmes Oil, Inc. (Cruizers)
Sellers
Holmes Oil, Inc.
Platforms
Refuel Operating Company, LLC
Industry
Retail
Location
North Carolina, United States
Transaction Type
Addon

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