Parkland has agreed to acquire Miami-based Tropic Oil Company Inc.
Tropic Oil transports, distributes and markets a full range of fuels, lubricants and equipment to the marine, automotive, trucking and aviation industries. Tropic Oil operates and supplies nine cardlock facilities, three bulk storage plants, 200,000 square feet of warehouse space, two dedicated rail spurs and 80 trucks throughout Central and South Florida.
“Through Tropic Oil, Parkland USA is adding its third Regional Operating Center (ROC) and expanding its presence into the southeastern states for the first time. Tropic Oil is highly regarded for its ability to provide consistent, reliable service throughout the central and south Florida markets,” said Parkland USA President Doug Haugh. “We view Tropic Oil as the gateway to the Caribbean and South America, as this new Southeast ROC will serve as a platform company that connects and leverages our SOL business in meaningful ways. We thank George LeVasser, Tropic’s CEO and welcome Steve Gorey, president of Tropic Oil and our new General Manager of the ROC, and his team to Parkland.”
The acquisition is expected to close on or around Oct. 1, 2019.
Tropic Oil will retain its name and its brand and will operate under Parkland USA, a division of Parkland comprising several of Parkland’s wholly owned subsidiaries.