Gaubert Oil Co. Inc. has acquired the former Morgan Oil Co. commercial fuels business from Majors Management LLC. The transaction includes a bulk plant facility in Nacogdoches, Texas, its commercial fuels distribution business and related assets.
Majors Management acquired 10 Chevron-branded convenience stores, the dealer wholesale business and the commercial fuels and lubricants business and associated bulk plant facility in East Texas from Nacogdoches-based Morgan Oil Co. Inc. in late 2022.
This divestiture completes the strategic rationalization of that business, the companies said.
Thibodaux, Louisiana-based Gaubert Oil is a multi-bulk plant commercial fuels distributor and c-store operator serving markets throughout Louisiana and East Texas.
“This acquisition complemented our current operating area, allowing us to more efficiently serve current customers, while strategically expanding our overall service area in Texas,” said Grady Gaubert, the company’s president. “We look forward to integrating this business into our system.”
Majors Management serves markets from Florida to Maine and Texas to Michigan. “Whether it be c-stores or dealer supply, our primary business focus is on the retail side of the deal. When making an acquisition, optimally divesting non-core components such as commercial fuels and lubricants is part of our established business rationalization process. This business fell into that category,” said Majors Management’s’ president, Ben Smith.
PetroActive Real Estate Services LLC, Coral Gables, Florida, provided exclusive advisory services to Majors for this transaction. “This is the second Majors commercial divestiture in the past year that we have supported, and I can’t speak highly enough about the level of professionalism consistently demonstrated by the Majors team.” said Mark Radosevich, president of PetroActive Services.
In mid-2022, Majors Management sold two bulk plant facilities in Wheeling and New Martinsville, W.Va., and their respective commercial fuels distribution businesses, to Bruceton Farm Service, in order to concentrate on retail.
In the last three years, Lawrenceville, Georgia-based Majors Management has completed 18 acquisitions in 14 states. It is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. Majors Management and its affiliates supply fuel to more than 1,400 convenience stores. It partners with leading petroleum brands including Marathon, BP, Shell, Chevron, Exxon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76, and Alon. Its current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Maine and Michigan.
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