Marathon to sell St. Paul Park refinery, SuperAmerica stores for $8...

Full story: TwinCities.com

Marathon Oil Corp. said today it has signed a letter of intent to sell its St. Paul Park refinery, 166 SuperAmerica convenience stores and its SuperMom's Bakery to a group of private equity firms for about $800 million.
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1 - 20 of 30 Comments Last updated Jun 18, 2010
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jobs

Saint Paul, MN

#1 May 19, 2010
I hope the employees don't get the boot by the new owners.
Pretty Boy

Saint Paul, MN

#2 May 19, 2010
What do these yahoos know about the refinery business and running gas stations? Nothing, it's just an investment. Not long after they take over you'll see pipeline spills galore and SA's closed.
Tooner

Minneapolis, MN

#3 May 19, 2010
Thanks Tim!
NoSht

Saint Paul, MN

#4 May 19, 2010
ACON Investments, I wonder what the C stands for. China maybe? I wouldn't be suprised. Might be a blessing if it is, that way, being an A55 kisser of socialist and communist countries, Obama won't want to tax and regulate them out of business as he does the coal industry.
chumps

Saint Paul, MN

#5 May 19, 2010
Better redeem your points for gas now!
My speedy points

Minneapolis, MN

#6 May 19, 2010
After all those times I swiped my card, does this mean those points aren't worth a dime? Hmmmmm. But more importantly, I hope this doesn't mean thousands will be out of work. We do not need any more jobs lost.
swschrad

Monroe, LA

#7 May 19, 2010
Pretty Boy wrote:
What do these yahoos know about the refinery business and running gas stations? Nothing, it's just an investment. Not long after they take over you'll see pipeline spills galore and SA's closed.
every MBA knows that knowledge of a business is optional. anything can be managed off a spreadsheet. that's how BP is approaching their Blown Pipe in the gulf, you see. and on paper, it doesn't look too bad to them.

you must have an attitude problem ;)
Good Place for A Refinery

Des Moines, IA

#8 May 19, 2010
St. Paul Park would be a wonderful place for a refinery. That joke of a facility that is there now would hardly qualify as it is now. Basically, its a people problem. The #1 priority of new ownership should be to boot that frickin union and its worthless employees out of there. Start fresh with motivated individuals who are as interested in contributing to the production of the facility as much as they are interested in collecting a paycheck.
R Peltier

Minneapolis, MN

#9 May 19, 2010
Good Place for A Refinery wrote:
St. Paul Park would be a wonderful place for a refinery. That joke of a facility that is there now would hardly qualify as it is now. Basically, its a people problem. The #1 priority of new ownership should be to boot that frickin union and its worthless employees out of there. Start fresh with motivated individuals who are as interested in contributing to the production of the facility as much as they are interested in collecting a paycheck.
You are soooo naive. Get used to paying ALOT more for fuel of all types.
Good Place for A Refinery

Des Moines, IA

#11 May 19, 2010
I am in the business, I know what I speak. What ever we all will eventually pay for all fuel types has nothing what-so-ever to do with the union-protected lazy-a55es up at that refinery.
GreatDay

Falcon, NC

#12 May 19, 2010
This is only the begining...
Wow

Saint Paul, MN

#13 May 19, 2010
Good Place for A Refinery wrote:
I am in the business, I know what I speak. What ever we all will eventually pay for all fuel types has nothing what-so-ever to do with the union-protected lazy-a55es up at that refinery.
Could you please have a little common courtesy? Why do you have such a bad taste in your mouth towards this refinery and especially the union?

You really should have a little sympathy considering the thousands of people who are employed through this company and the thousands more that would be affected by it if their spouse, father, mother, etc. ended up without a job. Can you imagine how many of them would potentially lose their house, their vehicles...how many of them would need some sort of goverment assistance? Have a little more respect.
Refinery Engineer

Findlay, OH

#14 May 19, 2010
How these transactions generally work is the new buyer doesn't invest anything and just squeezes as much remaining life as possible out of the existing equipment. I'd guess the refinery will close within 10 years if that is the case. But since they paid $800 million that might not be the idea...
Jabber

Saint Joseph, MN

#15 May 19, 2010
It seems that Marathon and SA is making money, so the sale is to get some cash for their main business. What have the union workers have to do with this. Seems like there is some jealousy out there,maybe these workers make more than the posters. lighten up and take care of your own business.
Casual Observer

Saint Paul, MN

#16 May 19, 2010
That price is a steal
Steve

United States

#17 May 19, 2010
From the ACON website:

About acon. ACON Investments is an international private equity investment firm managing capital through varied investment funds and special purpose partnerships. ACON focuses on investing in negotiated transactions involving companies where it can add value as an active shareholder—while providing support and additional resources to management.

ACON’s team of investment professionals has significant experience across multiple industries and geographies and works with experienced management teams to drive shareholder value creation.

Founded in 1995, ACON maintains offices in Washington DC; Los Angeles; Houston; Mexico City, Mexico; Sao Paulo, Brazil; and Madrid, Spain.
Dr Kildare

Saint Paul, MN

#18 May 19, 2010
Will they still be first to go up in price before the weekend?
I speak for all

Chaska, MN

#19 May 19, 2010
This is unmitigated corporate greed.
Not Surprised

Rosemount, MN

#20 May 19, 2010
If the Super America station/store in my town is any indication of the others in the chain, it's no wonder they are being sold. The Red Wing SA has been going downhill ever since it opened. Lazy, surly, poorly-trained, discourteous employess and dwindling stock on the shelves has been its trademark. Go to a Kwik Trip--the difference is like night and day.
Inside Info

Des Moines, IA

#21 May 19, 2010
Not Surprised wrote:
If the Super America station/store in my town is any indication of the others in the chain, it's no wonder they are being sold. The Red Wing SA has been going downhill ever since it opened. Lazy, surly, poorly-trained, discourteous employess and dwindling stock on the shelves has been its trademark. Go to a Kwik Trip--the difference is like night and day.
That store is not a corperate S/A store. It is a franchise owned by the same people who own the Freedom Value Center gas stations out of Hudson, WI.

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