Winona, Minn.-based Severson Oil Co. plans to sell five convenience stores in Lake City, Winona and Rochester, Minn. to Sinclair Oil Corp, according to the Winona (Minn.) Daily News. The company will continue to operate its La Crosse, Wis., station and continue retailing under the Mileage brand.
Owner Tom Severson told the newspaper that his reason for selling was because he needed more marketing support than the company could provide.
In May, Severson was attempting to switch his stations’ gasoline to the Mileage brand after ConocoPhillips ceased fuel supplies in Minnesota. Ultimately, Severson decided to sell to Sinclair because of its family legacy and private ownership.
“They’re really nice people, and they should fit in well with Winona,” Severson told the Daily News. “The primary reason I chose these people is because they respect their employees and they will continue to offer employment to my employees.”
Severson declined to share the financial details of the sale, but revealed that it should be finalized on Aug. 1.
Sinclair Oil, which operates more than 2,600 stations, said it plans to hire all 50 employees who work at the five Severson stations.