Gainesville, Ga.-based Mansfield Oil, a $5.1 billion company, operates from 650 bulk terminals and 900 supply points in 49 states and will begin [image-nocss] marketing C&N products to refiners and blenders immediately.
"Our acquisition of C&N is a win for producers who need a thriving independent marketing partner with the financial strength to compete in today's economy," said J. Alexander, president of Mansfield Oil. "For ethanol plants, C&N dramatically deepens its relationship with refiners thanks to our established connections with all the oil majors."
Doug Haugh, executive vice president and CIO at Mansfield Oil, is leading Mansfield's transition team. "I'm proud that the C&N executive team remains in place," he said. "This is a meeting of minds with substantial upside for both parties."
Jon Bjornstad, who founded C&N in 2000, was advised through the acquisition process by Bill Fecht of WJF Services and Terry Monroe of American Business Brokers. He continues in the role of president. "I welcome this development with open arms and see it as delivering on my promise to create the best marketing possible for producers." He cites that Mansfield's deep roots with major refiners will give C&N customers a unique advantage in the market.
Mansfield Oil has the distribution capability that, coupled with C&N's expertise in ethanol marketing, provides ethanol producers with more efficient access to refiners and blenders. Mansfield Oil and C&N are looking for more ethanol producers to join them in the next quarter as they aggressively expand C&N's ethanol marketing opportunities with oil majors.
Mansfield Oil "defines the next generation of downstream oil company," delivering a disciplined approach to fuel services. It focuses on optimizing and controlling fuel-related costs with local service nationwide. The company delivers 2 billion gallons of fuel annually to corporations, fleets, retailers, convenience stores and government agencies.
Bloomington, Minn.-based C& N was founded in 2000 to serve the marketing needs of independent, farmer owned co-op ethanol refiners. Its production comes from 11 different plants, from Indiana to Mexico. It is focused exclusively on the sales, logistics and regulatory reporting of renewable fuels across North America.
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