• REFUEL ANNOUNCES AGREEMENT TO ACQUIRE WAG-A-BAG

  • REFUEL ANNOUNCES AGREEMENT TO ACQUIRE WAG-A-BAG

    CHARLESTON, SC – April 26, 2021 – Refuel Operating Company, LLC (“Refuel”), a Charleston, South Carolina-based retail and wholesale fuel distribution and convenience store business, today announced that it has entered into an agreement to acquire the assets of Wag-A-Bag, LLC (“Wag-A-Bag”), a Texas based convenience store and retail fuel business operating under the Wag-A-Bag brand. 

    Refuel is a portfolio company of First Reserve, a leading global private equity investment firm exclusively focused on energy.

    Headquartered in Round Rock, Texas, Wag-A-Bag was founded in 1964 by the Rabb family. Wag-A-Bag owns and operates 16 conveniences stores located in the greater Austin market. 

    Mark Jordan, CEO of Refuel, stated, “The Rabb family has built a great company over the years and has established a reputation of providing incredible customer service and a superb shopping experience to its customers. We look forward to welcoming their employees to the Refuel family. In addition, we are excited about expanding Refuel’s network of stores into the very attractive and rapidly growing Central Texas market. We are thrilled to add such an exceptional business to the Refuel platform.”

    Cary Rabb, CEO of Wag-A-Bag, stated “I am happy that my family’s business will be in good hands with Refuel, and that my employees have a bright future with a growing company.  I am confident Refuel will continue to provide our customers a first-class experience with our world class staff.  This is a tremendous opportunity for everyone as Austin and Central Texas continue to grow.  Many thanks to Corner Capital for its counsel as we analyzed our strategies for Wag-A-Bag.”
     
    Wag-A-Bag was exclusively advised by Corner Capital Advisors.  “We believe Cary made a great selection in working with the Refuel team to acquire and continue growing his business as its Texas platform,” stated Corner Capital founder Andy Weber, “and we are grateful to have assisted Cary and his family throughout the process.”

    The transaction represents the seventh acquisition for Refuel since establishing the partnership with First Reserve in May 2019 and brings the total company operated store count to 130 stores. 

    Financial details of the transactions were not disclosed. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter of 2021.
     
     

     
    About Refuel 

    Refuel is a growth platform focused on the highly fragmented retail fuel distribution and convenience store sector. Please visit www.refuelmarket.com for further information.
     
    For media inquiries, please contact:
     
    Travis M. Smith
    FR Refuel, LLC
    Email: tsmith@refuelmarket.com
     
    About Corner Capital:
    Corner Capital provides transactional advisory services to business owners and entrepreneurs with a focus on energy, retail, distribution, and manufacturing sectors.  
     
    P. A. Weber III (Andy)
    www.cornercapitalpartners.com
    aweber@cornercapitalpartners.com