Denver-based Monfort Companies has sold its petroleum marketing and convenience retail assets to multiple buyers, finalizing a multiyear divestment strategy that marks the company’s exit from the sector. Before the sale, Monfort owned and operated approximately 80 convenience stores across Colorado, Minnesota, Oklahoma, Texas, and Wisconsin.
Founded in 1930, Monfort has a long-standing legacy of investing in and supporting local businesses and has served as a key driver of economic growth throughout Colorado. In 2013, the company expanded its diverse investment portfolio by acquiring its first convenience stores in Denver. Over the following decade, Monfort aggressively grew its footprint in the convenience retail industry, acquiring and operating select 7-Eleven locations in Texas, Murphy USA sites in Minnesota, Speedway and Dino Stop stores in Wisconsin, Jack’s Convenience Stores in Texas, and the Chisholm Corner stores in Oklahoma. At its peak, Monfort operated nearly 80 convenience stores across multiple states, some of which included adjacent operations such as car washes, quick lube shops, QSRs, and full-service restaurants. Monfort exited the convenience retail channel through several strategic divestments during 2023–2026, selling the various geographic markets to buyers including Azan Petro, LLC; 7-Eleven, Inc.; Kent Kwik Convenience Stores; and Diamond Jubilee Oil, LLC.
Matrix Capital Markets Group, Inc. provided merger and acquisition advisory services to Monfort, including valuation advisory and marketing the business through multiple confidential, structured sale processes. The transactions were managed by Cedric Fortemps, CFA, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group, and John Duni, CFA, CPA, director.
Alon Mor, CEO of Monfort Companies commented, “Monfort has always invested with purpose. Growing a portfolio of nearly 80 stores across five states in just over five years reflects our team’s ability to identify opportunity and execute. We’re grateful for Matrix’s partnership throughout this process, and we look forward to redeploying this capital into the next chapter of our growth.”
Mr. Fortemps added, “We’re honored to have been given the opportunity to advise the Monfort team on the sale of the sizable chain that they grew over such a short period of time. We wish them much success in redeploying this capital into other parts of their investment portfolio.”
Pierce Hunter, Gil Rosenthal, William Swartzwelder, and Lauren Rudzinski of Kutak Rock LLP served as legal counsel for the company.
