LAWRENCEVILLE, Ga. —Majors Management LLC has purchased the dealer distribution business of McPherson Cos. Inc., the latest in a string of acquisitions by the company across the Southeast.
The deal includes 185 retail fuel supply contracts and will help expand Majors' presence in Alabama, Florida, Mississippi and Tennessee and its branded supply partnerships with Shell, Chevron, Exxon, Conoco and CITGO.
The McPherson Cos. Inc., a family-owned business based in Birmingham, Ala., distributes Mobil-branded lubricants and has offered branded fuel distribution of major fuel brands to dealers in Alabama, Arkansas, Georgia, Mississippi, Florida, Tennessee and Louisiana. After finishing a strategic review of its business segments that began in 2018, McPherson decided to sell its dealer business and focus on lubricants distribution, commercial fueling and its Fuelz fleet card program as it expands in the Gulf Coast region.
Corner Capital, Santa Barbara, Calif., advised on strategy and benchmarking, and provided business valuation services to McPherson Cos.
“This transaction represents the conclusion of a thoughtful strategic process, and we are excited to focus our resources and efforts across the Southeast to continue building our business and seek growth opportunities in lubricants, commercial fuels and our Fuelz fleet card,” said Ken McPherson, president and CEO of McPherson Cos. “We believe our dealer customers will benefit from Majors Management’s similar dedication to their retail customers.”
McPherson was founded in 1971 by Charles K. “Mac” McPherson Sr. in Oneonta, Ala. Ken McPherson became president and CEO in 2008.
“We are very pleased to add McPherson’s customers to the Majors supply network with this acquisition,” said Majors Management President Ben Smith. “We are excited to welcome our new customers to Majors, and we are committed to providing high-quality and dependable service to the newest members of the Majors family.”
The deal is the latest in a series of acquisitions for Majors Management LLC, Lawrenceville, Ga., which, together with its affiliates, supplies fuel to more than 700 c-stores and represents brands such as Shell, Chevron, Texaco, Exxon, Mobil, Phillips, 76, Sunoco, Valero and CITGO. Its current markets encompass Alabama, Arkansas, Florida, Georgia, Louisiana, North Carolina, Mississippi, Ohio, South Carolina, Tennessee and Texas.
In October 2019, Majors purchased 18 c-stores in Georgia and four open dealer accounts from McDonald Oil Co., LaGrange, Ga. Earlier that year, in August, Majors acquired 17 stores and the branded Chevron distribution business from Bowden Oil Co., Sylacauga, Ala. It is rebranding those sites to its Hop-In c-store brand. In 2019, Majors purchased retail fuel supply contracts and nine c-stores in Texas from Allsup’s Convenience Stores Inc., Clovis, N.M., ahead of the chain’s sale to Yesway.