What's Happening?
Monfort Cos., a Denver-based investment firm, has exited the convenience-store industry by selling its petroleum marketing and convenience retail assets to multiple buyers. The sales were facilitated by Matrix Capital Markets Group Inc. Monfort had operated
approximately 80 convenience stores across Colorado, Minnesota, Oklahoma, Texas, and Wisconsin. The divestment process began in 2023, with buyers including 7-Eleven Inc., Kent Kwik Convenience Stores, Azan Petro, and Diamond Jubilee Oil LLC acquiring various stores. The specific number of stores sold to each buyer and the timing of these transactions were not disclosed. Monfort Cos. was ranked No. 90 on CSP’s 2025 Top 202 ranking of U.S. convenience-store chains by store count. The company, founded in 1930, has historically focused on commercial real estate, entertainment venues, and multisite retail investments.
Why It's Important?
The exit of Monfort Cos. from the convenience-store industry marks a significant shift in the competitive landscape of this sector. By selling its assets to major players like 7-Eleven and Kent Kwik, the market dynamics could change, potentially leading to increased consolidation and competition. This move allows Monfort to redirect its capital into other investment opportunities, which could impact local economies where it chooses to invest next. For the buyers, acquiring Monfort's stores could enhance their market presence and operational scale, offering them a strategic advantage in the convenience retail space. The transaction also highlights the ongoing trend of mergers and acquisitions in the convenience-store industry, driven by the need for companies to expand their footprint and improve efficiencies.
What's Next?
Following the sale, Monfort Cos. plans to redeploy the capital into other areas of its investment portfolio, which could include commercial real estate or other sectors. The buyers, such as 7-Eleven and Kent Kwik, will likely focus on integrating the newly acquired stores into their existing operations, optimizing supply chains, and potentially rebranding the locations. This could lead to job creation and infrastructure development in the regions where these stores are located. Additionally, the acquisition by Citizens Financial Group Inc. of Matrix Capital Markets Group, the advisory firm involved in the transaction, may influence future advisory services in the industry.
