Empire Petroleum Continues to Grow Its Empire
DALLAS -- Empire Petroleum Partners LLC continues its acquisition streak, turning to Georgia Oil Holdings for its latest move.
The motor fuels distributor acquired 59 dealer supply agreements from Georgia Oil. The deal also includes certain real estate and leasehold assets. The acquisition boosts Empire's presence in the southeastern United States and specifically Atlanta.
The transaction also expands Empire's existing business relationship with BP.
"The Georgia Oil assets, which were formerly owned by BP, are well situated in the Atlanta marketplace to allow Empire to continue to grow our market presence in the Southeast," said Mike Diebus, chief operating officer of Empire.
Empire is focused on growing same-store volumes at the Georgia Oil locations, and believes these assets provide an opportunity for Empire's customers to compete in the market, he added.
The deal with Georgia Oil is just the latest in a string of acquisitions for Empire. In late January, the company acquired 83 wholesale distribution contracts from King Fuels Inc., a distributor and supplier of branded fuel to gas stations primarily in the Houston market. The purchased accounts significantly enhance Empire's regional footprint in southwest Texas, as CSNews Online previously reported.
Other acquisitions from late last year include the assets of Beach Express Oil Co. Inc. and Besche Oil Co. Inc.
Empire continues to work on additional acquisition opportunities in its pipeline and looks forward to closing its next acquisition in the second quarter, according to the company.
Empire Petroleum Partners LLC is a motor fuels distributor of top brands, including Shell, Chevron, Valero, Sunoco, BP, Exxon, CITGO, Mobil, Marathon, Texaco, Gulf and ConocoPhillips. Headquartered in Dallas, Empire currently distributes motor fuel products to gas stations in 18 Mid-Atlantic, Southeastern, Midwestern and Southwestern states.