Monfort Companies divests convenience portfolio in multi-buyer seal

DENVER — Colorado-based Monfort Companies and its affiliates have agreed to sell their petroleum marketing and convenience retail assets to multiple buyers, according to Matrix Capital Markets Group Inc., which advised on the transactions. Financial terms were not disclosed.

Before the divestment, Monfort owned and operated around 80 convenience stores across Colorado, Minnesota, Oklahoma, Texas, and Wisconsin. The company has been systematically winding down its retail portfolio through several transactions since 2023, selling stores to buyers including Azan Petro, LLC, 7-Eleven Inc., Kent Kwik Convenience Stores, and Diamond Jubilee Oil LLC.

Founded in 1930, Monfort has a long-standing history of investing in and supporting local businesses across Colorado. The company entered the convenience channel in 2013 with its first store acquisitions in Denver and expanded quickly over the next decade through targeted site purchases in five states.

“Monfort has always invested purposefully,” said Alon Mor, CEO of Monfort Companies. “Growing a portfolio of nearly 80 stores across five states in just over five years showcases our team’s ability to identify opportunities and execute. We’re grateful for Matrix’s partnership throughout this process, and we look forward to redeploying this capital into the next chapter of our growth.”

The transaction occurs as Matrix itself undergoes a strategic change. Earlier this month, the firm entered into a definitive agreement to be acquired by Citizens Financial Group Inc. The all-cash deal will see Citizens’ wholly owned subsidiary, Citizens JMP Securities LLC, acquire nearly all of Matrix’s assets. After the closing, Matrix will function as a division of CJMPS. The deal is expected to close in the first quarter of 2026. Additional terms were not disclosed.

The Monfort divestment highlights ongoing consolidation and portfolio reshuffling in the convenience retail and petroleum marketing industries as operators reallocate capital for future growth.