Jet Food Stores in the US has sold its commercial fuels and lubricants affiliate, Atkinson Oil Company, to Colonial Oil for an undisclosed amount, according to a Tuesday press release from Matrix Capital Markets Group, which advised Atkinson in the deal.
Sandersville, Georgia-based Jet Food Stores expects to use proceeds to grow its retail business, which includes 56 convenience stores across central and south Georgia. These sites offer fuel from BP, Marathon and Chevron and its own Jet-branded gasoline, according to the company’s website.
Colonial Oil, which is also based in Georgia, sees the acquisition as a way to strengthen its position in the Southeast, according to a press release from the company. The deal includes Atkinson’s facilities in Sandersville and Macon, Georgia, which will continue operating as before under their new ownership.
Atkinson’s 14 team members will also join Colonial Oil as the company seeks to ensure continuity and prevent any disruptions of service for Atkinson’s customers.
Full story Jet Food stores sells fuels business, eyes retail growth | C-Store Dive
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