Apache Oil Co. sold its petroleum marketing and retail fuels distribution business to an undisclosed buyer in a transaction that closed June 25.
Apache’s petroleum marketing business, located around the New York City and Boston metropolitan areas, includes 27 commission marketers, 12 lessee dealers and 56 wholesale supply accounts.
According to Petrol Plaza, the assets were sold as two separate packages due to the two distinct geographic markets that the Apache serves but were acquired by same buyer. As part of the sale, Apache also entered into long-term leases with the buyer on 22 of the properties.
Apache, headquartered in New London, Conn., was founded in 1992 by Christopher Ohl and James Castle to distribute motor fuels to retail gas stations and service centres. Apache later expanded into Massachusetts and other states after acquiring multiple Shell-branded fuels distribution packages from Motiva Enterprises LLC.
Under the direction of Christopher Ohl and William Castle, Apache now distributes Shell, Sunoco, Exxon, Mobil, Citgo and Gulf-branded fuels across five states in the Northeastern U.S. A related entity, Willy’s Fuels LLC, which markets fuels to commercial customers in the heavy construction, pipeline and oil field service industries, was not included in the sale.