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DAYTON, N.V. -- The Herbst Corp.'s Terrible Herbst convenience chain is expanding here, with an agreement to acquire Berry-Hinckley Industries and 33 of its Winner's Corner convenience stores and gas stations in the state.
Winner's Corner parent company, Berry-Hinckley Industries, announced its plan to sell 33 of its 38 stores with Chevron branded gas and three car washes, along with rights to develop seven additional convenience store/gas station sites in Northern Nevada, and the rights to purchase Winners Gaming Inc., a slot route operation in Northern Nevada.
Terrible Herbst, operator of 125 c-stores in the Western U.S., also will have an option to acquire the Chevron Gasoline Distribution Terminal in Sparks, N.V. from Nella Oil Co., a Berry-Hinckley unit. The store acquisition is expected to close in March, while the acquisition of Winners Gaming Inc. will require approval from Nevada Gaming Authorities and is expected to close in late 2007 or early 2008. The sales price was not disclosed.
The acquisition follows another large purchase by the company. On Jan. 1, Herbst Gaming, a division of The Herbst Corp., took over the Dayton Depot Casino and Red Hawk sports bar in Dayton, N.V., among other Sands Regent holdings in northern Nevada.
"For more than 50 years, my family has been committed to growing our business in Nevada -- and with the acquisition of Berry-Hinckley Industries, we now have the opportunity to bring the Terrible Herbst brand back to Northern Nevada," Jerry Herbst said in a written statement. "With the acquisition of The Sands Regent by Herbst Gaming Inc., and now this acquisition, our family has a significant investment in Northern Nevada and has tremendous confidence in the region's future."
After the sale is completed, Berry-Hinckley plans to build a truck stop and casino in Fernley, N.V. and will continue to operate 30 Jiffy Lube franchises in Nevada and California, as well as 11 Superpumper Shell gas stations in Scottsdale, Ariz., said Berry-Hinckley's Paul Morabito.