You are here
KANSAS CITY, Kan. -- One Kansas oil company's bankruptcy paved the way for another convenience store company's plans to launch a new brand here.
Sunshine Energy LLC purchased most of Independence, Kan.-based Crescent Oil Co. Inc.'s assets and stores for $11 million Sept. 4. For now, Sunshine owns, operates or supplies about 65 area c-stores under various names, but it hopes to rebrand many of those locations as Sunshine Energy stores in early 2010, the Kansas City Star reported.
"This is ground zero right here in Kansas City, where we will roll out this new brand," Bret Berlin, president of Sunshine Energy, told the newspaper. "We want to change the mix to be community-based, catering to local needs. If the customer wants a particular type of beef jerky, we will carry that. A certain energy drink, a coffee flavor. We want to build a relationship."
Berlin declined to talk about the investors behind Sunshine Energy, nor would he provide locations for Sunshine's local stores. He said he has been back and forth from Florida this month, visiting stores from Overland Park to Pleasant Valley, and Lee's Summit.
"We only purchased strong assets," Berlin said. "We want to make sure we are a strong company going into the future and didn't want to purchase any assets that contributed to the downfall of our predecessor."
Sunshine Energy also purchased the assets of Appalachian Oil Co. Inc. (Appco) in Blountville, Tenn., for $6.25 million, and is looking at acquiring other companies. These acquisitions give Sunshine roughly 170 convenience stores that it owns or operates, and another 100 it supplies in Kansas, Missouri, Arkansas, Louisiana, Oklahoma, Tennessee, Kentucky and Virginia, It plans to sell approximately 200 million gallons of gas a year from Shell, Conoco, Phillips 66, Valero, CITGO and Marathon, according to the report.
Crescent Oil Sale Closes
Appco Sale Details Revealed