Framingham, Mass.-based Gulf Oil LP, a division of Cumberland Farms Inc., has acquired the rights to the Gulf brand in the U.S. from Chevron USA Inc., the Boston Business Journal reported.
Terms of the deal were not disclosed.
Gulf Oil began using the Gulf name in 1986 through a licensing agreement with San Ramon, Calif.-based Chevron, which owned the rights to the brands. Now that Gulf Oil has acquired the rights to the Gulf brand, it can expand beyond the 11 Northeast states where the company was allowed to use the name.
“We often receive unsolicited inquiries from gasoline distributors from around the country desirous to brand Gulf. It was heartbreaking to have to decline branding requests for stations simply because of where they were located,” said Rick Dery, senior vice president and chief sales and marketing officer for Gulf Oil, in a statement. “Thankfully, those days are behind us. Not only are we now behaving nationally … we are going to begin operating the same way.”
Gulf Oil, a subsidiary of Cumberland Farms Inc., distributes gasoline and diesel to 2,000 Gulf gas stations and owns 12 terminals supplying motor fuels, heating oil, jet fuels and kerosene.