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NEW YORK -- With independent investment banking firm SMJ Capital Advisors LLC acting as its exclusive financial advisor, Jack in the Box Inc. successfully closed the previously announced sale of its entire gas station and convenience store portfolio.
"We are thrilled that we could assist Jack in the Box Inc. with this superb outcome, leading to the sale of all of its 61 Quick Stuff fuel and convenience stores across the country," Ray Cleeman, president of SMJ Capital Advisors, said in a statement. "We were able to utilize our deep industry knowledge and extensive array of contacts, including operators, jobbers, financing sources, strategic players and major oil companies, to help Jack in the Box Inc. complete this transaction in a challenging environment."
With this successful sale, SMJ maintains it has now advised on nearly $1 billion of transactions in 2009, including advising Pacific Convenience & Fuels on the acquisition of all of ConocoPhillips’ US gas station and convenience store sites earlier in the year.
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