ELK CITY, Okla. — Circle K Stores Inc. acquired the convenience and retail gas assets of Hutchinson Oil Co. Inc. In all, the transaction added 20 Hutch’s convenience stores and travel centers in western Oklahoma and southern Kansas to Circle K’s network.

Hutchinson is a third-generation, family-owned and operated business that was founded by Ross Hutchinson in 1969. His son, David Hutchinson, assumed the role of president in the 1990s and focused the company’s efforts on expanding the Hutch’s brand by building large c-stores and travel centers with amenities that catered to both the passenger vehicle and professional driver customers, according to Matrix Capital Markets Group Inc.

The stores feature the Hutch’s Deli proprietary food and beverage program with made-to-order foodservice and a selection of traditional convenience merchandise.

Circle K is a global banner of Laval, Quebec-based Alimentation Couche-Tard Inc. 

The deal only includes Hutchinson Oil’s petroleum marketing and convenience retail network. The Elk City-based company sold its delivered fuels business to Hampel Oil Distributors Inc. in the fourth quarter of 2024. The delivered fuels business sold commercial refined fuels products to a diverse commercial and industrial customer base throughout western Oklahoma. 

With the closing of the convenience retail and travel centers transaction in January 2025, the Hutchinson family exited the fuels industry.

Matrix provided merger and acquisition advisory services to Hutchinson Oil, which included valuation advisory; marketing the businesses through confidential, structured sale processes; and negotiation of the transactions. 

“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,” said David Hutchinson, president of Hutchinson Oil. “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.”
The transactions were managed by Cedric Fortemps, co-head of Matrix’s Downstream Energy and Convenience Retail Investment Banking Group; John Duni, vice president; Mike Tucker, senior associate; and Matthew Paniccia, associate.

“The Hutchinson family should be extremely proud of the best-in-class network of convenience stores and travel centers that they developed and operated with an incredible and successful focus on customer satisfaction” Fortemps said. “We are honored to have had the opportunity to advise them on the sales of their fuels, convenience retail and travel center businesses.”

Jordan Field of Crowe & Dunlevy served as legal counsel for Hutchinson on both transactions.