Photograph courtesy of Corner Capital
CORSICA, Texas – WG Johnson Oil Co. of Corsicana, Texas, announced the sale of its local business and retail assets – an undisclosed number of Tiger Tote stores as well as the distribution of Exxon and Shell branded fuels – to Cole Distributing, based in Palestine, Texas. Co. and Kim’s Convenience Stores. The transaction closed in December 2021.
In 2020, WG Johnson Oil retained the valuation and strategic advisory services of Austin, TX-based Corner Capital Advisors LLC to identify options for its shareholders. The company has chosen to pursue a structured sales process for its business assets.
“We have had a long and successful career with this company making many friends and making positive contributions to the communities in which we operate. We now believe it is time to step aside and focus on other interests in the future, ”said Tom Johnson, chairman of WG Johnson Oil.
WG Johnson Oil was founded in 1985 when Tom Johnson’s father, William “Mr. Bill” Johnson, purchased an existing business from the previous owner who had chosen to sell the business and pursue other business interests. At that time, the activity consisted mainly of consumer companies and a few small service station dealers. The Johnsons built their first Tiger Tote convenience store in 1986 and have continued to expand their retail, distribution, transportation, lubricants, and consumer businesses in East Texas. Bill Johnson retired in 2007, but continued as an advisor to Tom Johnson.
Kim and Debra Cole founded Kim’s Convenience Stores, which has approximately 20 stores, in 1985.
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