SQRL puts c-store business for sale

The operator of over 300 locations has agreed to divest its assets to be acquired by recently created business Gas Hub Investments LLC.

After almost tripling its convenience store count, SQRL Holdings has decided to sell its c-store subsidiary, SQRL Service Stations, to a company based in Baton Rouge, Louisiana.

According to a report by C-Store Dive, newly created Gas Hub Investments LLC will take over the retail network after paying an undisclosed amount. As reported by the website, the agreement looks to solve “liquidity issues” that the company has faced in the past.

In October of last year, the company acquired a total of 210 c-stores, expanding its retail arm to more than 350 locations throughout 14 states. The sites were formerly leased to Mountain Express Oil, which filed for bankruptcy in August of 2023.

The assets were acquired from real estate investment trust Blue Owl Capital and, after the deal is finished and approved, will be part of Gas Hub Investments LLC.

Gas Hub was established last February, according to the Louisiana Secretary of State’s website, and is led by Jamal Hizam as its President. Once the deal is finished, the company will be the new owner of SQRL Service Stations.