Dive Brief:
- Duncan Oil, an Ohio-based energy company and convenience retailer, has acquired regional competitor Beoddy Oil Company, Jeff Kramer, president of Beoddy, confirmed to C-Store Dive.
- The deal, which was announced by Duncan Oil President Ryan McDaniel, includes Beoddy’s two convenience stores in Eaton, Ohio, as well as its bulk fuel and agricultural distribution network. Kramer said the two c-stores will be rebranded to Duncan’s RoadDog c-store banner, which operates about a dozen sites in Ohio, although they will still sell Marathon-branded fuel in the forecourt.
- McDaniel said in his announcement that this transaction marks the largest acquisition in Duncan Oil’s history.
Dive Insight:
Through the deal, Duncan Oil will absorb Beoddy’s regional distribution routes and service infrastructure. The acquisition will also strengthen Duncan’s wholesale fuel distribution, commercial tank wagon services and delivery presence in western Ohio, McDaniel said in his announcement.
Duncan’s RoadDog c-store count will increase from 10 to 12 locations, he added.
“These retail sites will expand Duncan's existing RoadDog Stores footprint,” McDaniel wrote in his announcement. “They will integrate into Duncan's specialized, fully customizable c-store operational model, introducing the proprietary RoadDog Rewards program to local shoppers.”
The deal also includes one car wash, which McDaniel said will be “supported internally by Duncan's commercial All In One Maintenance and Environmental division, which services and maintains c-store facilities across Ohio, Indiana, and Kentucky.”
Kramer said over the phone that the decision to sell Beoddy — which is in its 75th year of business — came as he approaches 65 years of age and wants to leave the industry. He and the team at Duncan were already familiar with each other, and he felt Duncan was the right fit to take over the business.
“They have the same principles that we do,” Kramer said of Duncan. “Perfect fit for my farmers, my employees, my brand, our name. It's a win-win for everybody.”
