Miller Oil Co., dba Millers Energy, and its affiliates sold the company’s 21 company-operated petroleum marketing and convenience retail stores, two company-owned dealer-operated stores and over 70 wholesale dealer accounts located in Virginia, North Carolina and Florida.
Global Partners acquired all of Miller’s stores and wholesale dealer accounts located in Virginia and North Carolina. Sunshine Gasoline Distributors acquired all of the Miller’s wholesale dealer accounts in Florida.
Miller was founded in 1977 by the late Augustus “Gus” Miller when he purchased Exxon Company USA’s home heating oil business in Norfolk, Va. Throughout the 1980s, the company experienced significant growth as the business expanded into convenience retailing and petroleum marketing. In the 2000s, the company expanded its fuels distribution business into southern Florida with the acquisition of a dealer portfolio. Today, Jeffrey “Jeff” Miller, president of Miller, manages the company, as he has done for the last 25 years.
In addition to the petroleum marketing, fuels distribution and convenience retail business sold, Miller Oil Co. owns and operates a heating oil distribution and HVAC service business with operations in Virginia, from Virginia Beach to Manassas, which the company will continue to own and grow.
“After 40 years in a great industry that gave me and my family so much, we decided to focus on other areas of our business. We engaged Matrix to advise us on this emotional process, and we couldn’t be happier with the result. We feel Global is a good fit culturally and feel confident our brand and employees will be well taken care of,” said Jeffrey Miller.
“The addition of Miller’s significantly expands our retail presence in the mid-Atlantic region and complements our portfolio of over 80 controlled sites and dealer network. Acquiring these high-quality locations enables us to further capitalize on our scale, supply relationships and our integrated model to enhance product margin along each step of the value chain,” said Global Partners President and CEO Eric Slifka. “Like Global, Miller’s is a family-founded business with shared values around community and a commitment to customer experience. This purchase demonstrates our appetite to grow our book of business.”
Matrix Capital Markets Group advised on the sale of the Miller’s assets.