• TFFA member Midtex Oil forms joint venture with Motiva Enterprises LLC

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    2018-11-01 02:12:11 EDT
    Another Major Forms Retail Joint Venture With Jobber

    In a move similar to Chevron's earlier this year, Motiva Enterprises LLC said
    today that it has formed a joint venture with one of its branded wholesalers.

    With the creation of Juniper Ventures of Texas LLC, Motiva joins forces with
    Midtex Oil LP, a central Texas petroleum distributor and convenience store
    operator, the refiner said.

    "By combining Motiva's existing supply infrastructure and Midtex's more than 50
    years of retail experience, Juniper Ventures is poised to excel in one of the
    fastest growing regions of Texas -- the I-35 corridor that runs from San
    Antonio to Austin," said Travis Capps, Motiva's executive vice president of
    strategy, business development and technical excellence, in an
    announcement."This JV illustrates our entrepreneurial spirit and commitment to
    growing Motiva's fuels business with profitable assets and successful retail
    operators." Motiva said Juniper Ventures is acquiring company-operated retail
    assets strategically located on the growth corridors in and around San Antonio
    along with wholesale supply agreements from Tarpley Inc., a long-standing
    distributor and retail operator in the San Antonio market.

    Motiva said it began discussing an asset sale with Tarpley in mid-July, and has
    executed purchase agreements. The transaction is expected to close by
    earlyDecember.

    "When we decided to sell these family-owned assets, we naturally thought of
    Motiva, who has been our supplier of choice since 1998," said Sean Nooner,
    Tarpley vice president as part of the announcement. "We look forward to
    continuing our relationship with Juniper Ventures as a retail tenant operating
    our Church's Fried Chicken franchises and company-owned Liquor Bueno stores
    co-located at several of the retail locations."

    The Juniper Ventures asset portfolio also will include Midtex's 20
    company-operated retail locations and wholesale supply agreements in New
    Braunfels and San Antonio. Midtex's primary store brand, "Fischer's
    Neighborhood Markets," is known for its "contemporary look and innovative
    offerings," Motiva said. The new stores average about 5,000 square feet and
    offer fresh food, along with other conveniences such as a post office, freshly
    spun milkshakes and a beverage cave.

    Midtex President Rodney Fischer said the 24-hour markets are "a one-stop shop
    where our customers can pick up dinner, fuel up their vehicles, make a post
    office run and choose from a huge assortment of merchandise."

    With the completion of the acquisition of the Tarpley assets next month,
    Juniper Ventures will have 75 retail sites and multiple land bank properties in
    prime retail locations, enabling the near-term expansion of at least a dozen
    new Fisher's Neighborhood Markets.

    ExtraMile Convenience Stores LLC, a new joint venture between Chevron U.S.A.
    Inc. and Jacksons Food Stores, officially began operations Feb. 1.

    --Donna Harris, dharris@opisnet.com



    Copyright, Oil Price Information Service

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