Long time Chevron branded marketer, Ownbey Enterprises has strategically divested its entire dealer supply business as part of a comprehensive business reorientation.
“The decision to part from Chevron and our many dealers was a very hard one to make. However after taking a pragmatic view of our company, it became apparent that our core competencies were on the commercial side of our business in both fuels and lubricants,” stated company president, Rodney Ownbey. “The retail supply landscape in our market has become highly complex and competitive, making it extremely difficult for marketers of our size to successfully compete.”
Founded in 1971, Ownbey Enterprises is a three generation family business that services customers in northwest Georgia, southeastern Tennessee and northeastern Alabama.
The sale allows Atlanta area marketer, Premier Petroleum to add Chevron to its portfolio of major oil brands and extend its market coverage into parts of north Georgia and Tennessee. “We are very excited to now have the quality Chevron brand to offer our many clients throughout the southeast and to welcome the Ownbey dealers as new customers. As a customer-focused company, we look forward to demonstrating our service commitment to these dealers and to a long and mutually-rewarding business relationship,” stated Aziz Dhanani, company founder and president.
PetroActive Real Estate Services LLC provided exclusive advisory support to Ownbey Enterprises for this transaction.
“In today’s tough competitive environment, it’s essential that marketers step back and take a pragmatic view of their businesses and develop plans that offer the best opportunities for long term success. This transaction represents a classic execution of a business plan where the retail supply business was divested to enable a single focus toward the commercial side of the business. We are confident that the stage is now set for long-term business success for Rodney and his company,” stated Mark Radosevich, president of PetroActive Services.