Matrix has announced the successful sale of District Petroleum and related entities to Dunne Manning. Dunne Manning Inc. has officially closed on its acquisition of District Petroleum Products Inc. and its related entities. The transaction was advised by Matrix Capital Markets Group Inc.
District Petroleum, headquartered in Huron, Ohio, owns and operates 22 Hy-Miler convenience stores and distributes and transports motor fuels to branded dealers and marinas throughout Ohio.
District Petroleum was founded in 1951 by a group of Sandusky, Ohio industrialists that needed fuel and lubricants for their factories, boats and airplanes. District Petroleum eventually made the decision to contract with Shell Oil Co. for all of its petroleum needs, and in the early years operated as a small jobbership, distributing gasoline to a few dealer-operated locations, as well as selling fuel oil to home heat customers and lubricants to industrial accounts. With gasoline marketing beginning to change with the advent of self-serve gasoline and competitive street pricing, the Hy-Miler brand was born in 1976. Hy-Miler then became the name of the convenience store chain as new stores were added.
Share this:
