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Peninsula Petroleum acquires Humboldt Petroleum

EUREKA, Calif. -- Peninsula Petroleum, owned by M.J. Castelo and Indy racers Mario and Michael Andretti, purchased Humboldt Petroleum and its 16 gas stations Thursday, reported the Eureka Times-Standard.

Humboldt Petroleum is composed of Shell-, Gas 4 Less- and Valero-branded gas stations and convenience stores in Northern California. A Humboldt representative told the newspaper that the current owners plan to retire.

Besides its new Humboldt and Del Norte acquisition, Peninsula Petroleum, based in Redwood City, Calif., owns and [image-nocss] operates stations and c-stores under the Shell brand in the Monterey, Calif., area.

We are pleased with the union of these two very outstanding and credible organizations, Humboldt President Bob Wotherspoon told the paper. This combination ensures continuity in the organization and continued service excellence and quality products for our loyal customers.

The Humboldt representative said that other than the retirement of owners Wotherspoon and Jim Seiler, the rest of the company's employees will remain. Everything will stay the same, she told the paper.

Humboldt will continue to be headquartered in Eureka, Calif. Eric Dean, the current director of operations, was named general manager of retail operations and will oversee the local business activities, said the report.

Mario Andretti and his son Michael are well-known in the world of auto racing. Mario won the Indy 500 in 1969, the Daytona 500 in 1967, was four-time Champ Car National Champion and a Formula One world champion. Michael retired from racing in 2003 after 23 years, according to the Times-Standard.

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