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DALLAS — Empire Petroleum Partners LLC acquired the retail dealer business of Mansfield Oil Co., and Mansfield has merged its retail dealer operations into Empire.
The combination of Empire and Mansfield creates a national dealer-focused fuel distributor that services more than 1,100 accounts in 26 states in the continental United States. As part of the deal, Mansfield will become a partner and retain an ownership stake in Empire.
The addition of Mansfield's retail dealer business — which represents approximately 6 percent of the Gainesville, Ga.-based company's total fuel sales — significantly enhances Empire's unbranded platform and further solidifies its relationship with its branded partners, including CITGO, Valero, BP, Mobil and ChevronTexaco.
"With changes in the retail gasoline industry just getting started, the best chance for large-scale success lies with efforts such as Empire's vision to establish a large volume business that is well capitalized and poised for growth," said Douglas Haugh, president of Mansfield. "We believe that Empire has assembled a great team and a strong platform that is required for long-term success."
Both Empire and Mansfield expect to work together on future acquisitions that will have a dual purpose: assist Empire in the growth of its retail dealer platform, while also supporting Mansfield's expansion of its retained commercial fuels business.
"The combination of the Empire and Mansfield teams on an ongoing basis will be a formidable partnership; one which will allow Empire to continue to execute on its growth plans well into the future," said Hank Heithaus, CEO of Empire.
Empire will hire Mansfield's existing operations personnel to continue to manage the accounts post-closing.
Dallas-based Empire Petroleum is a motor fuels distributor of top brands including Shell, Chevron, Valero, Sunoco, BP, Exxon, CITGO, Mobil, Marathon, Texaco, ConocoPhillips and Gulf. The company currently distributes motor fuel products to gas stations in the Mid-Atlantic, Southeast and Midwest states.
Mansfield Oil has regional operations centers located in Mark, Ill.; Detroit; Denver; Loma Linda, Calif.; Houston; Calgary, Canada; and renewable energy operations in Minneapolis and Bloomington, Minn. Post transaction, Mansfield's direct commercial, industrial and government fuel marketing and supply business will be approximately 3 billion gallons.