USA: Offen Petroleum acquires Petroleum Management and Pathfinder Transportation
Both companies will contribute to enhance the company's presence in the country and its distribution capabilities.
Offen Petroleum (Offen), the independent distributor of fuels, has announced the purchase of two separate companies to enhance its activities across the U.S. area. It has acquired Petroleum Management LLC., a motor fuel distributor based in Platteville, Colorado; and several logistics assets of Pathfinder Transportation LLC, a distributor of propane from Missouri, Arkansas and Oklahoma. Both purchases will boost the firm’s footprint in the region by amping up its product offering.
Bill Scaff and Ed Holloway are Co-Owners of Petroleum Management, a longstanding wholesaler of motor fuels in the Colorado area. It has sold its products under the Shell, Conoco, Phillips 66, Exxon, Mobil, Valero and Sinclair banners. On the other hand, Pathfinder is owned by John Holloway, a Hiwasse-based company in the state of Arkansas. The firm focuses on propane distribution to customers through its affiliate company, Tri-State Propane LLC.
"We are very pleased to complete these two deals to continue our efforts to be a leading consolidator of motor fuel and propane distribution companies in the United States. I am pleased that Bill, Ed, and John each have entrusted us to carry on their respective company legacies of providing best in class service to their customers," said Bill Gallagher, Offen's CEO in a company’s press release published by PR Newswire.
Both Petroleum and Pathfinder assets will help Offen in optimizing its activities across the states and growing its commitment to the branded dealer business. Petroleum will continue to operate convenience stores and supply a select portfolio of third party dealers located in its territory while Pathfinder acquisition has allowed Offen to enter an exclusive sales contract with Tri-State in order to expand its propane distribution in the Ozark region.
