Titan Global Holdings Inc. has appointed Marty Anderson as chief executive of Appalachian Oil Co. (Appco), as well as the appointment of the energy division’s entire senior management team.
Appco is the first acquisition of the company’s recently announced Titan Global Energy, which was formed to aggregate energy assets that can provide significant opportunities for revenue and earnings growth, such as the continued vertical integration of the supply chain, as well as future acquisitions to complement Appco’s existing retail and wholesale distribution footprint.
Appco, formed in 1923 and based in Blountville, Tennessee, distributes petroleum products to more than 160 dealers in the southeastern United States and owns and operates 56 convenience store locations. Appco has more than 550 employees and maintains longstanding partnerships with strategic terminal operators and major oil companies.
“Since joining Appco in 2001, Marty has been a driving force within the company,” said Bryan Chance, president and CEO of Titan Global Holdings. “His leadership has been instrumental in growing Appco’s Retail Division, managing key partner relationships and positioning Appco to be a leading petroleum distribution brand in the markets it serves. Marty has earned the respect of the over 550 employees of Appco and he is the ideal candidate to lead Appco through what we plan to be an unprecedented period growth.”
Anderson will focus his efforts on continuing organic growth in existing markets as well as on expanding strategic partnerships and relationships to lead the company’s mission to increase the number of biofuels products. As well, he will pursue strategic acquisitions that will expand Appco’s footprint and to vertically integrate its supply chain.
“It is an honor to take the reins of Appco from Jeff Benedict and Jim Maclean, two visionaries in petroleum distribution in the Southeast United States,” said Marty Anderson, Chief Executive Officer of Appalachian Oil Co. “I am thrilled with the opportunities in front of Appco. We have an industry proven management team, an aggressive strategic vision, and the strategic and financial support of Titan and its equity partners. I couldn’t be more excited.”