Year: 2019

Industry: Food, Beverage & Restaurants, Specialty Retail

Service: Sell-Side M&A

Geography: North America, International

Financial Advisor to Thorntons on Sale to a Joint-Venture Owned by BP and Arclight Capital

Louisville-based Thorntons operates 191 convenience stores in Florida, Illinois, Indiana, Kentucky, Ohio and Tennessee. Thorntons provides modern, large-format fueling canopies combined with high-quality convenience retail with an emphasis on top-of-the-line food and beverages. Founded by James Thornton in 1971, the company family-owned until the transaction. Matt Thornton, son of the founder, was CEO at the time of the sale.

BP was interested in the transaction to secure downstream retail fuel distribution, while Arclight would manage the convenience stores.

  • 2019

This transaction was completed by Financo professional while employed at previous firm, prior to Raymond James’ acquisition of Financo.