Dive Brief:
- Campbell Oil, parent company of Minuteman Food Mart, has acquired the assets of John’s Fuel Service, according to a Friday press release.
- The deal will expand Campbell Oil’s dealer division, tank wagon fuel operations and jobber network, according to the announcement.
- This is North Carolina-based Campbell Oil’s second acquisition of the year, following the pickup of Smith Oil in January.
Dive Insight:
Campbell Oil is looking to expand its fueling business through the acquisition of independent, family owned companies like John’s, according to the announcement. The deal grows Campbell Oil’s reach in North Carolina while expanding the products and resources John’s customers can access.
Johnny Robertson, former owner of John’s, will work with Campbell Oil through the end of the year to ensure a smooth transition. John’s network reached throughout the Carolinas and will enhance Campbell’s footprint in those markets, a Campbell spokesperson confirmed.
“The acquisition is particularly strategic in enhancing Campbell Oil Company’s reach within its Dealer Division, strengthening relationships with independent operators, and expanding branded and unbranded supply opportunities across the region,” the spokesperson said.
“After decades of building this business, finding the right partner was the most important decision I could make for my customers, my operators, and everything we worked to create together,” said Robertson. “Campbell Oil shares the same values and commitment to people we've always had, and I'm confident the relationships we've built over the years are in good hands.”
The fuels industry is seeing plenty of consolidation this year. In addition to Campbell Oil’s two acquisitions, Gaubert Oil bought the wholesale and transportation division of Buffalo Services, JB Dewar acquired McCormix Corporation and Sunoco LP bought the wholesale fuel division of Pops Mart.
Private equity firm Brenton Point Capital Partners also created a new business, Continental Fuel Group, specifically to buy commercial fuel distributors.
Editor’s note: This article was updated with input from Campbell Oil.
