The five stores involved in the deal are all located in Illinois in the following cities: Plano, Sheridan, Seneca, Earlville and Shabbona.
The transaction was facilitated by American Business Brokers and WJF Services Inc.
The sale is the result [image-nocss] of a strategic decision by Carlson Oil president, Don Carlson, according to American Business Brokers' president, Terry Monroe.
"Carlson Oil has successfully operated these outstanding stores for a number of years along with a very well run fuel distributorship," Monroe said. "Carlson has reached a point in his successful business career where he is ready to downsize and simplify his operation. This transaction gives him the opportunity to do that while allowing him and his family to continue to remain active in the industry."
Johnson Oil has been in business for more than 50 years with three generations of the family involved in the business. It currently operates more than 50 stores throughout northwestern Illinois and southeastern Iowa as well as supplying numerous dealers with Shell-branded products.
"This transaction will add the BP brand to their longtime Shell brand affiliation and expand Johnson Oil's marketplace from southeastern Iowa all the way to the far western suburbs of Chicago," said WJF Services president, Bill Fecht.
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.