Flyers Energy Advances Acquisition Strategy
Picks up commercial fueling, wholesale contracts, two of 16 c-stores from Redding Oil
AUBURN, Calif. -- Further advancing its growth strategy, Flyers Energy LLC said that it has acquired the commercial fueling, wholesale contracts and two convenience stores from Redding Oil Co., a fuel distributor based in northern California.
Flyers Energy is actively looking for additional acquisitions throughout California, Oregon, Washington, Idaho, Nevada and Arizona, it said.
Redding Oil will continue to own and operate its remaining 14 retail outlets, local bobtail fuel delivery trucks and bulk lubricants division as they have since 1939.
"The fuel industry is evolving. We have built this company through three generations over the past 75 years, and are pleased to partner with Flyers Energy to take on the commercial products," said Jack Reiser, CEO of Redding Oil. "As much as anything, our decision to sell this part of our business was largely driven by our commitment to always act in the best interest of our loyal customers."
He added, "With the technology regulatory, and environmental landscapes evolving so quickly, it is very difficult for smaller operators like Redding Oil to provide competitive pricing and best-of-class service to our commercial accounts. By contrast, we believe that Flyers has the skills, resources and scale to be an exceptional partner for our commercial customers now and into the future."
Privately owned Flyers Energy is already northern California's largest fuel distributor and is on an active campaign to expand its operations throughout the Western United States. The company announced its asset acquisition of Allied Washoe Petroleum earlier this year, and it said it is discussions with other fuel distributors in the region.
"By growing, we can increase our operating efficiency and better serve our customers," said Rick Teske, CEO of Flyers Energy. "The Reiser family and their team have built a solid, well-respected business here in northern California, and we are pleased to be adding many of the Redding Oil employees to the Flyers team."
Flyers Energy director of sales and marketing Jay Galvin said, "There are immediate advantages for our new commercial customers. Redding Oil customers will be able to use their commercial fuel cards across the country as we activate them on CFN [Commercial Fueling Network]."
Redding Oil sells products to 1,500 commercial, industrial, agricultural, governmental and other consumer accounts, and through 16 branded and unbranded retail outlets, five of which are company owned and operated. It also owns a network of 10 cardlocks.
The company operates four 8,900 gallon tank truck and trailers that transport motor fuels from supplier terminals in Chico, Sacramento and the Bay Area directly to larger consumer and retail customers, to company-owned retail stores and cardlocks and to the company's bulk storage facility in Red Bluff, Calif. It delivers to smaller customers with one 2,500-gallon and three 4,000-gallon tankwagons based in Red Bluff and Redding. It also hauls for hire for Holiday Markets and other customers under California Public Utilities Commission authority.
Auburn, Calif.-based Flyers Energy franchises the Flyers fuel brand and distributes wholesale and branded retail fuel, commercial lubricants, renewable fuels and solar power in the United States. Flyers Energy is the largest member of CFN and is also the marketer for more than 100 Chevron, Shell, Valero, and 76 branded stations. Flyers Energy offers commercial fueling at 230,000 retail gas stations nationwide with the Flyers Fleet Card.