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TAYLOR, Mich. -- Atlas Oil Co. continued its growth strategy with the acquisition of South Bend, Ind.-based B&R Oil Co. Financial terms of the deal, which will close Sept. 30, were not disclosed.
Sam Simon, chief executive of Atlas Oil, said the deal strengthens his company's position as a leading wholesaler of fuel in the Midwest.
"B&R Oil is an outstanding company with a great business model. Ralph Dobson and his son, Mike, have built a fabulous business, with wonderful locations and a super team of employees and customers," Simon said. "We look forward to this acquisition, and we are all excited about the continued growth opportunities."
B&R Oil currently owns the land for approximately 20 Phillips convenience stores and leases the units out to independent owners under a fuel supply agreement. Atlas will honor the supply agreements, a company spokesman told CSNews Online. B&R will continue to be based in South Bend and the leased stores will remain branded Phillips 66.
"The team at ConocoPhillips has really stepped up to the plate and showed us that they are focused on growth -- just like us," said Mike Evans, president of Atlas Oil. "We are excited about our new relationship with ConocoPhillips and expect to continue adding more Phillips 66 locations in the Midwest."
B&R Oil is the largest Phillips 66 Distributor in the country, supplying in excess of 100 million gallons of fuel per year to Phillips 66 convenience stores and gas stations in the Indiana and Michigan markets.
Atlas Oil supplies 300 million gallons of fuel per year to the commercial and industrial markets and to 156 convenience stores marketed under the Marathon, Clark and its proprietary Fast Track brands. Atlas Oil currently operates in Michigan, Ohio and Canada.
ABOVE: Atlas Oil is adding B&R Oil's Phillips 66 units to its network of Fast Track, Clark and Marathon convenience stores.