RaceTrac, Inc. – Georgia’s Second Largest Privately Held Company – Agrees to Acquire Gulf Oil LLC
Summary
ATLANTA & WELLESLEY, Mass.--(BUSINESS WIRE)--Today, RaceTrac, Inc., a family-owned, high-growth leader in the convenience store industry, announced that its wholly-owned wholesale fuel supply and trading subsidiary, Metroplex Energy, has signed a definitive agreement with Gulf Oil L.P. to acquire Gulf Oil LLC – an iconic brand with a long and distinguished reputation for combining a premier wholesale fuel distribution network with high-quality petroleum products and services. The combination of Metroplex and Gulf creates a best-in-class fuel network with a leading presence in high-demand markets across the country and adds another renowned consumer-facing brand to RaceTrac’s family of companies. AJ Siccardi, President of Metroplex Energy, said, “The gasoline marketplace is undergoing historic and fundamental change and will continue to evolve rapidly. We look forward to continuing to expand the Gulf legacy.” The transaction is subject to customary closing conditions, including approval under the Hart-Scott-Rodino Act, and is expected to be completed within 60 – 90 days. Gulf is a Massachusetts-based company with over 120 years of dedicated service, fuel supply, retail programs, and latest loyalty offerings to its customers and consumers.