Monfort Companies, the Denver-based investment firm, has officially hit the off switch on its convenience-store and petroleum marketing business, wrapping up a multiyear exit that started in 2023. What began with its first fuel and c-store buys in 2013 grew into a roughly 80-unit platform across Colorado, Minnesota, Oklahoma, Texas and Wisconsin. The last round of deals shifts those remaining locations to a mix of national and regional operators and closes the book on a fast-paced retail expansion streak.
Deal Closes After Multiyear Wind-Down
Matrix Capital Markets, which advised Monfort on the sales, said the latest transactions complete a planned, phased exit that kicked off in 2023 and wrapped up this year. At its height, Monfort’s retail arm did more than sell fuel and snacks, with adjacent operations that included car washes, quick-lube shops, quick-service restaurants and a handful of full-service dining spots tied to fuel sites, according to the advisory firm.
“Monfort has always invested with purpose,” CEO Alon Mor said in a statement, framing the pullback from day-to-day retail as a strategic move rather than a retreat.
Who Bought The Stores
Instead of one giant handoff, Monfort carved up its regional holdings and sold them in separate transactions. Buyers included Azan Petro, 7-Eleven, Kent Kwik Convenience Stores and Diamond Jubilee Oil, which picked up locations across several states as part of the staggered sell-off. The multistate portfolio did not move as a single block, which allowed Monfort to wind down its footprint in phases.
An industry roundup from MobilityPlaza notes that these final deals officially complete Monfort’s phased exit from the convenience retail business.
Industry Context And What It Means
Monfort’s move lines up with a broader trend of smaller and mid-sized c-store operators selling stores or reshaping portfolios in a tougher operating climate. As reported by C-Store Dive, Monfort quietly began unloading locations in 2023, with the last roughly 20 sites going to Diamond Jubilee earlier this month, a step the outlet framed as another sign of consolidation in the channel.
Analysts told the outlet that flat traffic and tighter margins have put pressure on operators with fewer than 100 stores, nudging many to cash out, merge or refocus on other lines of business.
What Comes Next For Monfort And Local Markets
Monfort says it plans to put the sale proceeds to work in real estate, private investments and experiential assets, leaning into hospitality and development projects where it believes it has a stronger edge. The firm’s public portfolio already highlights hospitality, mixed-use developments and entertainment venues in the Front Range and the Denver metro, signaling a clear shift toward locally oriented projects rather than running forecourts and backbars.
For communities that hosted Monfort-branded stores, the shift will mostly play out through new signs and new operators. Many locations are expected to remain open under the buyers’ established banners, while others could be consolidated or rebranded as the new owners fold them into their existing networks.
