Empire Petroleum Grows Its Distribution Empire
Acquires 83 wholesale contracts from King Fuels
Published in CSP Daily News
DALLAS -- In its third major deal in a little more than a year, Empire Petroleum Partners LLC has announced that it acquired 83 wholesale distribution contracts from King Fuels Inc., a distributor that supplies branded fuel to gas stations primarily in the Houston market.
As reported in a 21st Century Smokes/CSP Daily News Flash, the addition of these King Fuels' accounts significantly enhances Empire's Southwest regional footprint in Texas, while increasing Empire's existing partnerships with Valero, Chevron, Shell, ExxonMobil, ConocoPhillips and CITGO.
The King Fuels acquisition solidifies Empire's continued dedication to execute its growth plans. The company most recently acquired the assets of Beach Express Oil Co. Inc. in April 2013 and Besche Oil Co. Inc. in Dec. 2012.
"The King acquisition is important to Empire, as it provides Empire with a substantial foothold in the Houston market--a market Empire has targeted for growth. With the King assets, we now have the necessary foundation of business to allow us to continue to grow the market and increase our market presence over the next 12 to 18 months" said Empire's CEO, Hank Heithaus.
"We seek to be a reliable and stable partner for our customers, suppliers, employees and the communities in which we do business" said Sultan Poonawala, Empire's vice president of operations in Dallas.
Houston-based King Fuels is a fuel distributor servicing accounts in Texas and Louisiana. It also owns and operates a number of retail stations in Houston-area markets and will continue to focus on the operations of these company-operated locations and real-estate development opportunities, as well as provide services to its remaining dealer network.
Empire Petroleum, based in Washington, D.C., and Dallas, currently distributes motor fuel products to stations in 18 Mid-Atlantic, Southeast, Midwest and Southwest states.