SMJ Capital Advisors LLC, an independent investment banking firm with a gasoline and convenience store advisory group, announced that its client, Jack in the Box Inc., successfully closed the previously announced sale of its entire gas station and convenience store portfolio. SMJ acted as the exclusive financial advisor to Jack in the Box Inc. on the transaction.
“We are thrilled that we could assist Jack in the Box Inc. with this superb outcome, leading to the sale of all of its 61 Quick Stuff fuel and convenience stores across the country,” says Ray Cleeman, president of SMJ Capital Advisors. “We were able to utilize our deep industry knowledge and extensive array of contacts, including operators, jobbers, financing sources, strategic players, and major oil companies, to help Jack in the Box Inc. complete this transaction in a challenging environment. With this successful sale, SMJ has now advised on nearly $1 billion of transactions in 2009, following up on our engagement earlier this year advising Pacific Convenience & Fuels on the acquisition of all of ConocoPhillips’ US gas station and convenience store sites.”