Offen Petroleum announces completion of two acquisitions
Offen Petroleum, based in Commerce City, Colorado, U.S.A., announced the completion of two separate acquisitions. Offen Petroleum said it has acquired a portfolio of branded motor fuel dealer contracts from Petroleum Management LLC., a motor fuel distributor headquartered in Platteville, Colorado, U.S.A., and certain logistics assets of Pathfinder Transportation LLC, a distributor of propane in Missouri, Arkansas, and Oklahoma, U.S.A.
These acquisitions strengthen Offen’s geographic density and product offerings. Offen Petroleum is a leading independent distributor of motor fuels, propane, lubricants, and offers petroleum logistics services in 26 states throughout the Western and Midwestern United States.
“We are very pleased to complete these two deals to continue our efforts to be a leading consolidator of motor fuel and propane distribution companies in the United States,” said Bill Gallagher, Offen’s CEO. “I am pleased that Bill, Ed, and John each have entrusted us to carry on their respective company legacies of providing best in class service to their customers.”
Petroleum Management is owned jointly by Bill Scaff and Ed Holloway and is a longstanding wholesaler of motor fuels in the state of Colorado. The company sells branded motor fuels under the Shell, Conoco, Phillips 66, Exxon, Mobil, Valero, and Sinclair banners. Offen Petroleum acquired a majority of Petroleum Management’s assets in the Front-Range region of Colorado. After the transaction, Petroleum Management will continue to operate convenience stores and supply a select portfolio of third-party dealers located in Colorado.
The addition of these customers further deepens Offen Petroleum’s operations in Colorado, further enhances Offen’s position as one of the leading fuel distributors in the United States and grows Offen’s commitment to the branded dealer business.
Pathfinder is owned by John Holloway with headquarter offices in Hiwasse, Arkansas, and distributes propane to customers through its affiliate company Tri-State Propane LLC. In connection with the acquisition of the Pathfinder logistics assets, Offen Petroleum entered into an exclusive propane sales contract with Tri-State. This acquisition will allow Offen Petroleum to expand its propane distribution capabilities in the Ozark region of the United States.
