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ST. PAUL, Minn. – Yocum Oil Inc. sold its nine Holiday Stationstores convenience stores and gas stations back to Holiday Cos., the Minneapolis/St. Paul Business Journal reported. The transaction is part of Yocum's move toward a complete sale of the company.
Holiday reportedly paid $8 million for the locations in Cottage Grove, Eagan, Inver Grove Heights, Jordan, Maplewood, North St. Paul, Stillwater and Woodbury, Minn., along with the business operations for a second site that Yocum leased in North St. Paul. These sales closed on April 17.
Yocum plans to split up its businesses -- which include residential and commercial fuel divisions, fuel testing and consulting services -- and sell them to new owners, according to President and CEO Tim Yocum.
St. Paul-based Yocum Oil was founded in 1959 by Paul Yocum, who passed away in 2012 at age 95.