Hutchinson Oil Company Inc. has sold its petroleum marketing and convenience retail business to Circle K Stores Inc., according to a press release from Matrix Capital Markets Group Inc., who advised the sale. Headquartered in Elk City, Oklahoma, Hutchinson operates 20 Hutch’s branded convenience stores and travel centers in western Oklahoma and southern Kansas.

“Hutchinson is a third-generation, family owned and operated business that was founded by Ross Hutchinson in 1969. ... The stores offer a top-tier ‘Hutch’s Deli’ proprietary food and beverage program with made-to-order (MTO) foodservice and an extensive selection of traditional convenience merchandise.”

Hutchinson sold its delivered fuels business, which sold commercial refined fuels products throughout eastern Oklahoma, to Hampel Oil Distributors Inc. in the fourth quarter of 2024. “With the closing of the convenience retail and travel centers transaction in January 2025, the Hutchinson family has now exited the fuels industry after a long and successful period as one of Oklahoma’s premier petroleum marketers, fuels distributors and convenience retail operators,” said Matrix.

David Hutchinson, president of Hutchinson, commented, “We have known the Matrix team for years through our involvement in SIGMA. They managed our transactions with the same knowledge and professionalism that we have come to know them for. From start to finish, they managed many of the details that helped us maximize the value of our company. As the Hutchinson family determines our next chapter, we cannot thank the Matrix team enough for their help to complete these transactions. We could not have done this without them.”

Matrix provided merger and acquisition advisory services to Hutchinson, which included valuation advisory, marketing the businesses through confidential, structured sale processes, and negotiation of the transactions. Jordan Field of Crowe & Dunlevy served as legal counsel for Hutchinson on both transactions.