“As our industry undergoes a considerable transition, the acquisitions of long-term distributors such as Woodfin will help Empire to continue to grow and succeed for many years to come,” says CEO.
Empire Petroleum Partners LLC (Empire) has successfully acquired the gasoline wholesale distribution assets of Woodfin Heating Inc., a Richmond, Va.-based convenience store operator and distributor that supplies branded fuel to gas stations throughout Virginia.
The addition of Woodfin significantly enhances Empire’s Mid-Atlantic regional footprint while increasing Empire’s existing partnerships with ExxonMobil, BP and Citgo.
The Woodfin acquisition illustrates Empire’s continued execution of its growth plans. The company most recently acquired the assets of Eagle Fuels, LLC in October 2012 and plans to announce several additional acquisitions over the coming months.
“The Woodfin acquisition is a perfect fit for Empire and is an important part of our attempts to solidify Empire’s presence in our Mid-Atlantic markets,” said Empire’s president and CEO Eli Kimel. “As our industry undergoes a considerable transition, the acquisitions of long-term distributors such as Woodfin will help Empire to continue to grow and succeed for many years to come.” In an attempt to ensure an orderly transition, Empire has hired Woodfin’s Richmond-territory manager, Gary Powell, who will continue to serve the Woodfin accounts as a territory representative for Empire.
“Empire’s approach to the transaction was both swift and professional. Additionally, I can rest assured that our long-term dealer customer base will be left in good hands with Empire. Empire’s operating philosophy should ensure that the Woodfin assets will continue to thrive for many more years to come, even in this ever changing business environment” added Jack Woodfin, of Woodfin.