Musket, Hoyer sign European diesel procurement partnership
The Love’s subsidiary has signed an agreement with the European retailer to leverage downstream fuels expertise.
Musket Corporation, the trading and logistics arm of the Love’s Family of Companies, and Hoyer Trading & Supply GmbH, the supply arm of the Hoyer Group of Companies, announced a strategic partnership to procure diesel in Europe.
As the European diesel market shifts away from traditional supply chains, both companies will use their downstream fuels expertise to provide supply in a challenging landscape.
The Love’s Family of Companies is headquartered in Oklahoma City and employs more than 39,000 people across the United States. Besides operating a network of over 600 locations across 42 states it also includes two Houston-based companies: Musket Corp. and Trillium Energy Solutions. Musket specializes in commodity supply, trading and logistics across North America.
“We share a common culture that is driven by a focus on long-term value and investment in customer needs. We’ll leverage our newly formed Musket subsidiary in Geneva, Switzerland, to make sure this partnership is successful," said Frank Love, co-CEO of the Love’s Family of Companies.
Hoyer is a traditional, independent family-run company since 1924 and headquartered in Visselhövede/lower saxony, Germany. With nearly 2500 employees across 100 national sales offices the company runs approximately 250 own retail stations and supplies B2B and B2C customers with the source of energy they need via its own logistic fleet of over 1300 vehicles.
