M&A Deal Summary

RaceTrac Acquires Gulf Oil

On July 5, 2023, RaceTrac acquired distribution company Gulf Oil from Gulf Oil

Acquisition Highlights
  • This is RaceTrac’s 1st transaction in the Distribution sector.
  • This is RaceTrac’s 1st transaction in the United States.
  • This is RaceTrac’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2023-07-05
Target Gulf Oil
Sector Distribution
Buyer(s) RaceTrac
Sellers(s) Gulf Oil
Deal Type Divestiture

Target

Gulf Oil

Wellesley Hills, Massachusetts, United States
Gulf Oil LLC is a premier wholesale fuel distribution network with petroleum products and services.

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Buyer(S) 1

Buyer

RaceTrac

Atlanta, Georgia, United States

Category Company
Founded 1934
Sector Retail
Employees10,082
DESCRIPTION

RaceTrac is an own and operates convenience stores representing the RaceTrac and RaceWay brands in 12 states in the southeast, offering guests an affordable one-stop-shop featuring a wide selection of food and beverage favorites, including freshly brewed coffee, and competitively priced fuel. RaceTrac is based in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 1
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1

Seller(S) 1

SELLER

Gulf Oil

Wellesley Hills, Massachusetts, United States

Category Company
Founded 1901
Sector Oil/Gas Exploration
DESCRIPTION

Gulf Oil is a diverse and growing refined products terminaling, storage, and logistics business and a leading distributor of motor fuels in the United States. Gulf Oil was established in 1901 and is based in Wellesley Hills, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Pyramid

Middletown, Pennsylvania, United States

Pyramid facilities store and distribute gasoline, diesel fuel, heating oil, and kerosene which are shipped on common carrier pipelines into our large aboveground petroleum storage tank facilities.

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