RaceTrac to acquire Gulf Oil
As the largest acquisition in the company’s history, the brand would expand its scale and operating network across the U.S.
RaceTrac announced that its wholly-owned wholesale fuel supply and trading subsidiary, Metroplex Energy, has signed a definitive agreement to acquire Gulf Oil LLC. The company is set to acquire its fuel brand and expand across the United States and U.S. territories.
The transaction also includes all of Gulf’s branded distributor and license agreements as well as the exclusive rights to market fuel at its retail locations along the Massachusetts Turnpike. This is a resulto of RaceTrac’s strategy to accelerate growth in its core business activities and drive enhanced operating efficiencies.
RaceTrac has nearly 800 retail locations representing the RaceTrac and RaceWay brands in 12 states in the southeast.
“This exciting acquisition continues our history of growth, expanding RaceTrac’s family of companies to nearly 40 states across the continental U.S. and Puerto Rico. Gulf is a trusted national brand that has been innovating and evolving for over 100 years, combining quality petroleum products with outstanding service. We look forward to continuing to expand the Gulf legacy,” said Max McBrayer, CEO at RaceTrac.
Gulf is a Massachusetts-based company with over 120 years of service, fuel supply, retail programs, and loyalty offerings. The brand fuels consumers through approximately 1,200 branded locations across the United States and Puerto Rico.
