Porter Hedges Represents Refuel in its Acquisition of Wag-A-Bag Convenience Stores in Austin Area
Porter Hedges represented Refuel Operating Co., LLC in its acquisition of Wag-A-Bag LLC, which owns and operates 18 convenience stores under the Wag-A-Bag brand with Shell- and Valero-branded fuel in the Austin, Texas market.
The transaction represents the seventh acquisition for Refuel since establishing its partnership with First Reserve in May 2019. The Wag-A-Bag acquisition represents Refuel’s entry into the Texas market, and brings the total company-operated store count to over 130 locations in North Carolina, South Carolina, Arkansas, Mississippi, and Texas.
Refuel is a Charleston, S.C.-based retail and wholesale fuel distribution and C-store business. It is an affiliate of First Reserve, a private equity investment firm focused on energy, and this acquisition is a growth platform focused on the retail fuel distribution and convenience sector.
Headquartered in Round Rock, Texas, Wag-A-Bag was founded in 1964 by the Rabb family.
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