Acquisition adds significantly to Hough’s network of retail gasoline and diesel fuel locations throughout North Jersey and into New York.
Ewing, N.J.-based Hough Petroleum Corp. has announced the acquisition of Gordon Petroleum Corp.’s wholesale dealer supply assets.
The deal will add approximately five million gallons annually to Hough’s fuel volume in New Jersey and New York. In addition, Hough is bringing on a new senior director of wholesale and retail sales, Mike Kelly, who will help steer the new acquisition Kelly has more than 25 years of industry experience including stints at Gulf Oil, Coastal and Gordon Petroleum, based in Holmdel, N.J.
Gary Hough, president and CEO, said, “We are excited about this opportunity to acquire these wholesale dealer sites along with bringing in Mike to continue our aggressive growth strategy moving forward. This is a first step in our acquisition plan and allows us to grow into the New York market along with expanding our presence throughout New Jersey.”
A family-owned business, Hough is a petroleum products and automotive products distributor of BP, CITGO, Gulf, Shell and Conoco and Mighty Auto Parts and petroleum-related services and equipment provider with operations in Delaware, Pennsylvania, and New Jersey. The company supplies gasoline and diesel fuel products, lubricants, commercial fuel and wholesale auto parts to numerous companies, gas stations and municipalities.
“This acquisition helps complement our current business and expands our market penetration throughout North Jersey and grow into the New York market,” said Gregory Hough, vice president of business strategy. “We’re excited about the opportunity to enhance these sites and increase our gasoline portfolio, on top of bringing in a professional like Mike, who will help us grow our business even more.”