MODESTO, Calif. — Independent retailer and fuel supplier Boyett Petroleum has completed its purchase of the wholesale fuels distribution business of Danielson Fuel Services (DFS) in Oklahoma. Boyett is a premier independent fuel supplier and retailer in the western United States.
The acquisition serves as a platform for continued growth and expansion in the mid-continent region.
Jerry Danielson founded DFS in 1975, and it has grown to be a major regional player in refined fuel distribution within a four-state region under the leadership of second-generation and current owner Mike Lawson. The company sells branded fuel under the Phillips 66 and Valero banners and unbranded fuel to its retail customers.
DFS’s wholesale portfolio included many consignment sites in which it owns the fuel and handles the fuel operations, while the c-store owner controls the inside operations. DFS does not own any retail sites, and it did not sell any company-owned, company-operated stores in the transaction to Boyett.
“Our core focus with this sale was to find a strategic buyer that would carry on the same high standards and values towards our customers and employees. It has been a privilege to serve and support our loyal customers and local communities and we’d like to thank our team of employees in representing our company with honor,” said Mike Lawson, president of DFS, Norman, Okla.
“We are very excited about acquiring Danielson Fuel Services as it further expands our existing operations and provides a growth platform for new, opportunistic geographies of our wholesale business. Mike and their employees have served their customers with dedication and enthusiasm. We are eager to remain on the same path of service with passion and commitment,” said Dale Boyett, president of Boyett Petroleum. “Bringing the DFS employees to the Boyett team was very important to our leadership team.”
“Boyett Petroleum is acquiring high-quality wholesale fuel supply assets in a location strategic to their expanding footprint,” said Jeff Traub, partner of investment bank Downstream Energy Partners LLC, Chicago, which provided exclusive merger and acquisition advisory services to DFS.
- Boyett Petroleum is No. 157 onCSP’s 2021 Top 202 ranking of U.S. c-store chains by size.
Downstream Energy Partners, Chicago, served as the exclusive advisor in the sale of DFS's retail and wholesale fuels distribution portfolio to Boyett Petroleum.
Since 1940, Boyett Petroleum has been a family-owned and -operated fuel wholesaler and retailer based in Modesto, Calif. Today, Boyett Petroleum is a leading distributor of Phillips and Valero branded motor fuels while also offering several other brands, including its non-branded proprietary solution known as Kwik Serv, Kwik In, Kwik Out. Boyett Petroleum also operates 10 retail sites under its Cruisers, Cruise In, Cruise Out brand with 76-branded fuel, and it owns and operates the fuel equipment at approximately 50 sites.
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