Chester-based Southside Oil LLC has made a move to more than doubled it’s retail operations by acquiring 172 Exxon retail gasoline stations, mostly in Maryland, the Richmond Times-Dispatch reported.
Southside Oil is a wholesale gasoline distribution company owned by Steven and Linda Uphoff, who also operate 42 Uppy’s Convenience Stores Inc. locations in Virginia. Uppy’s employs more than 550 people and was founded in 1995. The Uphoffs also own the property on which 67 other BP and ExxonMobil gas stations sit, but don’t operate those stations.
“It’s a big acquisition,” said Terry Johnson, Uppy’s director of marketing and purchasing. “We’ve been in a growth mode ever since our inception, and the opportunity [for the Exxon station purchase] was there.”
“What’s been purchased in Maryland are all dealer locations,” Johnson added. “We’re going to sell them gasoline and collect rent.”
Exxon’s sale is in line with its plans to remove itself from the retail end of the business.
“The major integrated refiners like Exxon . . . have largely divested themselves of any retail interests,” said Michael O’Connor, president and CEO of the Virginia Petroleum, Convenience and Grocery Association and its subsidiary Petroleum, Convenience and Grocery Services Inc.
Southside Oil has been in business for more than 75 years.