MINNEAPOLIS Oct. 1, 2018 – Winthrop & Weinstine, P.A., played a vital role in the recent sale of Croix Oil Company’s convenience retailing and wholesale fuel assets to Northern Tier Retail, LLC and D & M Oil, LLC respectively. As legal counsel for Croix, Winthrop & Weinstine attorneys Tammera R. Diehm and James W. Dierking guided the company on the sale of its 13 company-operated convenience locations, five dealer and three commissioned sites and approximately 70 supply contracts.
Northern Tier Retail, LLC (d/b/a SuperAmerica® and Tesoro), is a subsidiary of Andeavor and D & M Oil, LLC is a wholly owned subsidiary of Molo Petroleum. Croix, based in Stillwater, Minn., is a petroleum marketer primarily serving Minnesota and Western Wisconsin. The company is also a fuel distributor for Marathon, BP and ExxonMobil and is a SuperAmerica and Circle K® Franchisee. Matrix Capital Markets Group, Inc., of Richmond, Virginia, provided merger and acquisition advisory services to structure the Croix sale and negotiate the transaction.
“We are honored that we had the opportunity to counsel Croix on this important transition. Together with the advisors at Matrix Capital Markets Group, we were able to bring Mark Ogren’s vision to reality and achieve a successful outcome for Croix.” said Winthrop & Weinstine attorney Tammera Diehm.
Croix originally began in the late 1800s as a coal business called the John J. Kilty company. In 1964, John Ogren purchased the company and later changed the name to Croix Oil Company in 1972. Operating as a family enterprise ever since, Croix has focused on the retail aspect of the petroleum business for the last decade. Upon the sale of this business, Croix President Mark Ogren conveyed confidence that the company’s employees and customers will be in good hands with new owners Andeavor and Molo Petroleum.