DALTON, Ga. -- A third-generation fuel marketer has sold its entire dealer business, citing competitive pressures as a key factor.
Family-owned Ownbey Enterprises Inc., Dalton, Ga., announced it had sold its dealer supply business as part of a “comprehensive business reorientation.”
“The decision to part from Chevron and our many dealers was a very hard one to make,” said Rodney Ownbey, president of Ownbey Enterprises, in a statement. “However, after taking a pragmatic view of our company, it became apparent that our core competencies were on the commercial side of our business in both fuels and lubricants.
“The retail supply landscape in our market has become highly complex and competitive,” he continued, “making it extremely difficult for marketers of our size to successfully compete.”
Ownbey Enterprises was founded in 1971 and serves northwest Georgia, southeastern Tennessee and northeastern Alabama.
Premier Petroleum, Duluth, Ga., was the acquirer. The purchase enables it to add Chevron to its portfolio of major oil brands, which include Shell, CITGO, Texaco, Valero, Exxon Mobil, Murphy Oil, Sunoco and Gulf, and add the north Georgia and Tennessee areas to its market coverage.
“We are very excited to now have the quality Chevron brand to offer our many clients throughout the southeast and to welcome the Ownbey dealers as new customers,” said Aziz Dhanani, founder and president of Premier Petroleum. “As a customer-focused company, we look forward to demonstrating our service commitment to these dealers and to a long and mutually rewarding business relationship.”
PetroActive Real Estate Services LLC, Coral Gables, Fla., advised Ownbey Enterprises in the transaction.
“This transaction represents a classic execution of a business plan where the retail supply business was divested to enable a single focus toward the commercial side of the business,” said PetroActive president Mark Radosevich, who told CSP Daily News that around 40 total retail outlet accounts, both Chevron-branded and unbranded, were involved in the transaction. “We are confident that the stage is now set for long-term business success for Rodney and his company.”
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