What federal legislative or regulatory issues keep you up at night? In my opinion, NACS Day on the Hill is a must-attend event. Supporting NACS’ political engagement efforts ensures us that Pester Marketing has a seat at the table and that we have a voice that will be heard. Working through NACS and getting to personally know our congressmen and congresswomen has never been more important.

Within the last several years we have literally seen an explosion of new laws and regulations that impact our industry and our daily business. What does NACS political engagement mean to you, and what benefits have you experienced from being politically engaged? Whether it is sponsoring the county fair, rodeo or a local little league team, it helps to ingrain us into the communities we depend upon for our success. Because we operate between 50 and 60 stores in suburban or rural areas, our involvement within the various communities is critical. I think community engagement may be one of the most important as well as most satisfying programs we are involved with. What role in the community do you think convenience stores should play? served as legal counsel for Pester.This month, NACS talks with Richard Spresser, president, Pester Marketing Company. We look forward to watching the Company continue to grow under its new ownership.”Ĭhristopher Sackett and Jonathan Napier of BrownWinick, P.L.C. The current ownership group and management team, which was led by CEO Rich Spresser during both transactions, have grown and significantly improved the chain. The sale process was extremely well executed, and we were very pleased with the outcome.”Ĭavalier added, “It is very special to have advised Pester on the sale of the Company for a second time. Spresser said, “We sincerely appreciate the guidance and attention to detail that Matrix provided throughout a very complicated transaction. I am excited to see the businesses continue with such well-respected organizations.” While it was time for the current shareholders to monetize their investment, we look forward to seeing Pester grow with Rich’s further stewardship under the new ownership of Fortress and Phillips 66. Sam Youngblood, General Partner and Board Chairman, commented, “Working with the team at Matrix on the sale process, and with Rich Spresser over the past several years has been a very positive experience. The transaction was managed by Spencer Cavalier, Co-Head of Matrix’s Downstream Energy & Convenience Retail Group Sean Dooley, Director and Martin McElroy, Associate. Matrix provided merger and acquisition advisory services to Pester, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the purchase agreement. Post-closing, senior executive management, including Richard Spresser and Monte McGilvray, CFO, will continue to lead the Company.

In January 2018, under the guidance of Pester’s President & CEO, Richard Spresser, the acquisitions of Western Convenience and Kwik Stop were consummated and increased the Company’s store count to over 100. WFS retained the non company-operated store business units. The ownership group originally acquired Pester’s 47 company-operated stores in May 2016 as a spin-off from World Fuel Services Corporation, after WFS’s purchase of Pester in September 2015. Matrix Capital Markets Group, Inc., a leading, independent investment bank, announces that it has advised Pester Marketing Company d/b/a Alta Convenience on its sale to a joint venture entity between Fortress Investment Group LLC and a subsidiary of Phillips 66 Company.įor nearly 65 years, the Pester name, and more recently Alta Convenience, has been a leader in petroleum marketing and convenience retailing throughout the Rocky Mountain, Southwest, and Midwest regions of the United States.

Richard pester