H&S Energy has acquired the Andretti Petroleum Group’s convenience retail, fuels distribution, cardlock, fleet card, commercial fueling, car wash, lubricants and transportation businesses. Prior to the sale, Andretti Petroleum Group consisted of nearly 170 convenience retail and fuels distribution assets in California, Oregon and Washington, US.
M.J. Castelo, CEO and managing member of Andretti Petroleum Group, commented, “We are delighted to transact with H&S Energy as the new steward of our enterprise. Our companies share similar stories, starting with single sites, then growing into formidable players in our industry. This transaction will be a win for all stakeholders.”
Sal Hassan, founder and CEO of H&S, stated, “We are honoured to take on this great portfolio of retail sites, wholesale distributorship, cardlocks, lubricants and transportation assets. We believe the people on both ends of this transaction, when put together, will bring great synergies and help take H&S to the next level.”
Andretti Petroleum Group was founded in 1997 when racing icons Mario Andretti, Michael Andretti, long-time Andretti advisor John Caponigro and Texaco executive Castelo launched a startup Texaco wholesale business in northern California. In 1998, the business developed its flagship Texaco facility in downtown San Francisco, which featured an Andretti SpeedMart convenience store, an Andretti Winning Finish car wash, a Burger King and the first Starbucks integrated into a convenience store.
Over the next 25 years, Castelo grew the company to be one of the largest convenience retail and fuels distribution businesses in the West through organic growth and a series of acquisitions.