ITTA BENA. Miss. -- Scott Petroleum Inc., a gasoline distributor and convenience store operator headquartered in Itta Bena, Miss., purchased Benoit, Miss.-based gasoline distributor Bostick Brothers Inc. on January 1, reported the Associated Press. The Bostick Brothers' seven gas station owners bought the land and stores. They will soon be changing their pumps and canopies to reflect the change in owners.
Details of the transaction were not released.
"Bostick Brothers was in business for 81 years," Xan Robertson told the news agency. "It was just a good time to sell."[image-nocss]
The deal came about because the current owners, Robertson and his brother Tom, wanted to focus their attention elsewhere. "My brother and I are really more farmers," Robertson said. "We have never worked daily at the company. It got to a point where we wanted to focus more on farming and no one else in our family was interested in coming back and running the company."
"Scott [Petroleum] buying us was a good opportunity," he added. "We decided to take it, and everyone that was working for Bostick is either working for Scott or has somewhere else to work already."
Bostick Brothersthen called Bolivar Oil Co.--was founded in 1929 by Xan Bostick, Robertson's grandfather, to supply the demand for petroleum-based products for farmers and businesses, said the report. As those farmers and businesses relied less on kerosene, the company expanded their offerings to include diesel, propane, ethanol and biodiesel.
It changed its name to Bostick Brothers in 1961 because Xan formed a partnership with his brothers, C.A. and R.M. Bostick. In 1973, grandchildren Xan Robertson, Tom Robertson and Edna Kirk Robertson bought out all interest in the company.
Solon Scott Sr. founded Scott Petroleum in 1935. The company sold liquefied petroleum gas (LPG), the report said.
Scott Petroleum currently offer a complete line of petroleum products including LPG, gasoline, diesel, biodiesel, aviation fuel, kerosene, oil and grease, sold through 14 bulk plant locations that cover north central Mississippi and the eastern edge of Arkansas and Louisiana. Gasoline and diesel fuels are marketed to the public through seven convenience stores, two automated fueling stations, as well as fueling stations located at 12 of its bulk plant locations.
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