TAYLOR, Mich. -- Already beginning to supply fuel to many of the locations, Atlas Oil Co. has announced that it has purchased most of the assets--including 20 gas stations--of the Hadi Group Distributors Inc., Hadi Petroleum Transporter Inc., C & H Land Co. LLC, Fordson Consumer Center Inc. and A & G Land Co. LLC (The Hadi Cos.).
Atlas Oil purchased the assets via a sale under the U.S. Bankruptcy Code, it said.
As reported in a Raymond James/CSP Daily News Flash on Tuesday, the sale includes the purchase of 20 retail sites and up to 50 retail fuel supply contracts that are predominately branded Marathon and Speedy.
The sites are located throughout the Metro Detroit area.
"Our goal is to help our newest customers rebuild their business and recapture lost volume," said Sam Simon, CEO and owner of Atlas Oil Co. "We understand the struggles they have been through and welcome them to the Atlas family."
Atlas began supplying some of the sites this week and will continue to ramp up supply at many more locations in the coming days, it said.
"Atlas Oil has a long history in the retail gas station business. and we are pleased that we can use our expertise to help bring these 20 retail sites back to profitability," said Michael Evans, Atlas Oil's executive vice president of retail and real estate. "We will work with existing store managers and personnel to ensure that the sites have a plan to improve their operations and restore their viability in the community."
Hadi Group is based in Ypsilanti, Mich.
Based in Taylor, Mich., Atlas is a fuel supply and distribution company operating in 26 states. Atlas launched its Earth Market brand of convenience stores in the Chicago market in 2013 and also supplies fuel to nearly 400 gasoline convenience stores throughout Illinois, Indiana, Michigan and Ohio. Atlas maintains operations centers in Taylor and Niles, Mich.; Hammond, Ind.; Toledo, Ohio; La Feria, Monahans, Odessa and Victoria, Texas; Albuquerque, N.M.; Orlando, Fla.; and Charlotte, N.C., and has satellite offices in Houston, Scottsdale, Ariz., and Minneapolis.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.