Offen Petroleum acquires Gas Depot to enter the Great Lakes region
The purchase will expand the fuel distributor’s range across Chicagoland by adding over 150 new customers as well as new operated locations.
Offen Petroleum has announced the completion of Gas Depot’s wholesale division acquisition and Gas Depot Oil Company. As both firms are headquartered in Chicago, Illinois, this marks Offen's first foray into Chicagoland and the Great Lakes region.
The purchase will add over 150 new retail gas station and convenience store customers along with a portfolio of municipal customers. The addition of these will provide the company a new footprint in the area and surrounding markets, to further establish an operations center in Chicago and hire operations personnel of Gas Depot.
"I am very pleased that we have been able to impact the fuel industry over the past 23 years and now our team has chosen to redirect our efforts towards growing our other companies and businesses. Gas Depot has grown not just as a business, but an extended family that has created lifelong opportunities and relationships," said George Nediyakalayil, Founder and CEO of Gas Depot.
Gas Depot was founded by Nediyakalayil in 1999 and is a full-service wholesale distributor of motor fuels throughout the Midwest, including Illinois, Wisconsin, Indiana, and Missouri. The firm sells motor fuels under the Shell, Marathon, Citgo, BP, Exxon/Mobil, Gulf, Clark, and its proprietary Gas Depot brands as well as being a supplier of unbranded motor fuels. It also operates its own chain of gas stations which will continue to be under its command after the transaction.
"George Nediyakalayil and his team of dedicated employees have created a very successful business operating in a highly competitive marketplace and I am very honored that the Nediyakalayil family has entrusted Offen to continue providing superior service to their customers," added Bill Gallagher, CEO of Offen Petroleum.
This acquisition builds upon Offen's commitment to supporting the branded motor fuel dealer and municipal businesses. Downstream Energy Partners and Trilla Consulting Group provided merger and acquisition advisory services to Gas Depot.
