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ATHENS, Ga. -- Compass Energy Corp. has completed its acquisition of all of the revenue and assets of R.D.O.C. Inc., a wholesale distributor of Shell and Phillips 66 fuels.
As part of the $18-million deal, R.D.O.C. shareholders will receive 65 million shares of Compass under the terms of the stock purchase agreement becoming a wholly owned subsidiary of Compass Energy.
Rusty David has been appointed president, CEO and chairman of the board of Compass Energy. Pete Iodice will assume position of vice chairman of the board.
"We are very happy to announce the completion of our companies joining forces and with our new administrative team," David said. "Working together we look forward to a very aggressive growth phase over the next couple of years."
R.D.O.C. was formerly a subsidiary of South East Wholesale Gasoline and Fuel Distribution Co.