Founded in 1931, C.A. Torbett, located about 45 miles to the northeast of Knoxville, serves both retail and commercial customers throughout northeastern Tennessee. It owns and leases some retail sites while supplying some BP branded and unbranded dealers. It also has a bulk plant business supplying rural commercial accounts.
"My wife Mary [image-nocss] Lou and I are happy that the legacy that was started so many years ago by my father will continue into the future. Knowing that the business and our employees are in good hands enables us to step away and do some of the things that we've always wished we had the time to do. Besides simply enjoying our new found freedom, I'm looking forward to helping a local charity here in New Tazewell," said C.A. "Bud" Torbett, owner.
"This acquisition represents an important piece of our overall growth strategy. We are sincerely excited about the prospect of serving our existing and new customers as well as being a part of the Northeast Tennessee community. The company's trained and motivated employees were a big deciding factor in our decision to make the acquisition. This is a testament to the quality values that Bud instilled in the business and his team throughout the years," said Tom DuPree, managing member of Fuel American Freedom.
The sale was facilitated by PetroProperties & Finance LLC of Coral Gables, Fla. "No two transactions are alike and they all have interesting twists and unique challenges," said Mark Radosevich, president of PetroProperties & Finance. "Yet I've come to believe that if a wide enough net is cast, every seller will find an appropriate buyer, like a hand in a glove. Few things in business compare with the satisfaction gained by helping good folks like Bud and Mary Lou optimally exit, while enabling guys like Tom DuPree to achieve their personal business building goals."
Fuel America Freedom is a champion of ethanol and U.S. energy independence. On its website, it says, "Our goal is to help Americans exercise their God given freedom of choice by transitioning from an import dependent petroleum only fuel for our vehicles to import independent petroleum blends for our vehicles, as we consistently grow our economy."
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