DEVILS LAKE, N.D. -- Farmer's Union Oil Co. will acquire two convenience stores and bulk fuel operations from Goulding's Inc. in a deal that will close April 16, reported the Associated Press. Terms of the deal were not disclosed.
Paul Goulding, president of Goulding's, who has worked at the business about 30 years, said the timing was right for him to leave the business. He said he began discussing the sale last year because he was interested in retiring and had no family members interested in taking over the 90-year-old company.
"One of my intentions was to try to keep the business local, and it will be local," Goulding said. Both companies are headquartered in Devil's Lake, N.D.
Farmer's Union Oil manager Emil Gregory said his business is largely agriculture based. The bulk petroleum, refined fuels and propane operations at Goulding's will allow Farmer's Union to expand its base of customers, he said.
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