CHARLESTON, S.C. — Retail fuel distribution and convenience-store chain Refuel Operating Co. LLC has completed the acquisition of Bishopville Petroleum Co. Inc. The company also has a new-build program under way.
Bishopville Petroleum was founded in 1930 and is among the longest tenured distributors of Shell-branded products in the United States. The company, based in Bishopville, S.C., has a wholesale motor fuels distribution and related transportation services business and owns and operates two high-volume convenience stores.
The transaction represents the third acquisition for the Refuel platform since it was formed in May 2019 and increases the total company-operated store count to 33 stores, all of which are in South Carolina. Green DesChamps, owner and president of Bishopville Petroleum, is joining Refuel as director of wholesale and will continue to drive growth in the business.
“We are extremely pleased to announce the acquisition of Bishopville Petroleum,” said Mark Jordan, CEO of Refuel. “The transaction is highly complementary as it fits nicely into Refuel’s existing geographic footprint and is also consistent with Refuel’s overall focus on high-quality stores with exceptional service. I have known and respected Green DesChamps for over a decade and look forward to working with him in growing the Refuel platform.”
DesChamps said, “The Bishopville team looks forward to joining Refuel to help grow the newly formed wholesale division.”
The companies did not disclose the financial details of the transaction.
“In addition to Refuel’s acquisition strategy, we have a robust new-build pipeline in the works,” Chief Administrative Officer and General Counsel Travis Smith told CSP Daily News. “Refuel has started construction on two stores since our purchase of the West Oil assets. One of the new builds is in Sumter and the other is located in the highly sought-after Nexton Development in Summerville. Refuel has eight additional new builds in the pipeline, most of which are in the Charleston market.”
Mount Pleasant, S.C.-based Refuel is a portfolio company of First Reserve, Greenwich, Conn., a global private-equity investment firm focused exclusively on the energy value chain.